LONDON (dpa-AFX) - Mothercare plc (MTC.L), a specialist global brand for parents and young children, reported Thursday that its fiscal 2021 total loss was 21.5 million pounds, compared to last year's profit of 13.1 million pounds.
On a continuing operations basis, last year's loss was 8.5 million pounds.
Group adjusted loss before taxation was 8.6 million pounds, compared to loss of 6.4 million pounds a year ago.
Adjusted EBITDA fell 64.5 percent to 2.2 million pounds.
Turnover fell 48 percent to 85.8 million pounds from 164.7 million pounds last year.
The company noted that it recorded substantial online sales growth throughout the pandemic, but this in itself was not enough to offset the temporary closure of retail stores.
Regarding the current trading, the company noted that in the first thirteen weeks of fiscal 2022, Franchise Partners, many of whom continue to be affected by Covid-19 lockdowns, recorded total retail sales of 94 million pounds, generating an adjusted EBITDA of approximately 2.5 million pounds.
Trade continues to be challenging in the key markets of Russia, India, Indonesia and Malaysia due to the continuing impact of COVID-19 on footfall and consumer confidence.
For the year, the company expects a significant improvement in operating profits.
In London, Mothercare shares were trading at 13.80 pence, down 1.08 percent.
Copyright RTT News/dpa-AFX
© 2021 AFX News
