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Mothercare HY Loss Narrows

Mothercare plc. (MTC.L) reported that its loss attributable to equity holders of the parent for the 28 week period to 10 October 2020 narrowed to 14.1 million pounds or 3.8 pence per share from 19.2 million pounds or 5.5 pence per share in the prior year.

Statutory Group loss before taxation from continuing operations were 14.0 million pounds compared to profit of 5.7 million pounds in the prior year.

Group adjusted loss before taxation from continuing operations was 4.4 million pounds compared to profit of 4.0 million pounds last year.

Revenues for the period dropped to 44.4 million pounds from 102.0 million pounds in the prior year.

Worldwide sales were down 39.7% in constant currency, while it was down 42.0% in actual currency.

For the current financial year FY21, the Group currently expects net worldwide retail sales of at least 320 million pounds and invoiced shipments of 80 million pounds.

The company expects group revenue to return to more normal levels in the short to medium term.

The group expects to make a small EBITDA loss for the full-year, due to reduced revenues following the impact of Covid-19 and the one off costs associated with the restructuring. However, as revenue returns to normal levels, the Group expects EBITDA margin for the business to return in line with what has been guided to historically.

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