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Mothercare Turns To Profit In H1, Says Enters H2 With Confidence; Stock Up

Shares of Mothercare plc (MTC.L) were gaining around 5 percent in the early morning trading in London after the specialist brand for parents and young children reported Thursday a profit in its first half, compared to last year's loss.

Looking ahead, Clive Whiley, Chairman of Mothercare, said, "With positive feedback to our new product ranges, and a lean operating structure, we enter the second half with growing confidence for our future prospects."

For the first half, Group profit before tax was 3.6 million pounds, compared to last year's loss of 13.2 million pounds.

Basic earnings per share were 0.6 pence, compared to loss of 3.5 pence last year.

The latest first half is a 26-week period, while the comparative period was a 28-week period.

Adjusted EBITDA was 5.6 million pounds, compared to loss of 0.1 million pounds a year ago.

Turnover declined to 41.7 million pounds from 44.4 million pounds a year ago.

Half year retail sales were 184 million pounds, largely in line with the levels for the equivalent period for last year.

In London, Mothercare shares were trading at 19.70 pence, up 4.7 percent.

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