Mothercare posts encouraging results

Firm reports interim results for the 28 weeks, ending October 13th, 2007.
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Mothercare has reported promising growth since its acquisition of the Early Learning Centre (ELC) back in June.

Group sales for the firm, are up almost 25 per cent to £328.5 million while UK sales are up marginally by 1.6 per cent to £293.1 million.

The firm’s interim report includes results of the ELC for the 16 weeks since its acquisition.

It has opened 21 ELC inserts within larger Mothercare UK stores to create destination parenting centres, while also launching Gurgle.com, a social networking website for parents.

Ben Gordon, CEO, said,” This has been a transformational first half for the group and for Mothercare in particular. Our UK and international businesses are continuing to perform well and we are delighted to have completed the acquisition of the Early Learning Centre.”

“In the UK we grew like-for-like sales, gross margins and profits. At the same time we controlled costs and completed a major project to introduce 21 Early Learning Centre inserts into our larger Mothercare stores ahead of the busy Christmas period,” Gordon said.

He also said its international franchise business continues to perform strongly.

“Although we remain cautious about the prospects for UK consumer spending, we believe that we are well placed as we enter the second half.”

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