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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Mothercare plc    MTC   GB0009067447

MOTHERCARE PLC

(MTC)
  Report  
Delayed Quote. Delayed London Stock Exchange - 10/21 06:51:23 am
13.59848 GBp   -0.92%
09/27MOTHERCARE : Director Declaration
AQ
09/18MOTHERCARE : Holding(s) in Company
PU
07/26MOTHERCARE : FY20 Q1 Trading Update
PU
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Mothercare : completes store closures, targets online growth

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05/24/2019 | 05:04am EDT
People walk past a Mothercare store in Altricham

(Reuters) - Mothercare saved more money than expected last year from the store closures on which it has pinned its recovery hopes, helping it cut net debt by 84% to 6.9 million pounds.

This fuelled expectations that the British owner of the Little Bird, Baby K and Blooming Marvellous brands will meet its target of being debt-free this year and drove its shares 20% higher to 24.3 pence on Friday.

The company also reported a loss before tax from continuing operations of 66.6 million pounds, compared with 94 million pounds a year earlier.

"The key message from today's FY19 results is solid transformational progress and delivery on the market's financial expectations," finnCap analysts said in a note.

Mothercare, which floated in 1972 and has been a mainstay of British shopping streets, said it had closed a third of its British stores over the past year, realising more than 25 million pounds in cost savings.

It had originally hoped to save 19 million pounds as a result of reductions in rent, store costs, and other overheads.

"We have achieved a huge amount this year, refinancing, restructuring and reorganising Mothercare to ensure a sustainable future ... The majority of that work is now done," Chief Executive Mark Newton-Jones said.

Mothercare, which faces intense competition from a new generation of web-based players, said it has increased online marketing spend in Britain through paid search and e-mail.

Online sales currently contribute to 45% of its annual sales in Britain and represent 5% of its global turnover, with a digital presence in 22 nations.

Mothercare said it would look to gain an online presence in four more countries this year.

"The next phase of our strategic transformation plan is to develop Mothercare as a global brand, maximising the opportunities we see across many international markets," Newton-Jones said.

Like-for-like sales in Britain, where it has been losing money for more than a decade, were down nearly 9%, while annual worldwide sales slipped 8% to 1.07 billion pounds.

(Reporting by Shashwat Awasthi in Bengaluru; editing by Patrick Graham and Alexander Smith)

By Shashwat Awasthi

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Latest news on MOTHERCARE PLC
09/27MOTHERCARE : Director Declaration
AQ
09/18MOTHERCARE : Holding(s) in Company
PU
08/15Online spending helps UK retail sales grow unexpectedly in July
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07/26LONDON STOCK EXCHANGE : Vodafone helps FTSE 100 gain; Sports Direct slips as res..
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07/26MOTHERCARE : FY20 Q1 Trading Update
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07/26MOTHERCARE : sees no growth in annual profit as consumer confidence falters
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07/25Mothercare in talks to sell or franchise its UK store operations - Sky News
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07/16U.S. property trust Vornado challenges Arcadia's restructuring plan
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06/26MOTHERCARE : Annual Financial Report and Notice of Annual General Meeting
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06/26MOTHERCARE : Block listing Interim Review
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More news
Financials (GBP)
Sales 2020 460 M
EBIT 2020 -7,15 M
Net income 2020 -18,4 M
Debt 2020 27,3 M
Yield 2020 -
P/E ratio 2020 -2,59x
P/E ratio 2021 -
EV / Sales2020 0,16x
EV / Sales2021 -
Capitalization 46,8 M
Chart MOTHERCARE PLC
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Mothercare plc Technical Analysis Chart | MarketScreener
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Technical analysis trends MOTHERCARE PLC
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 3
Average target price 20,50  GBp
Last Close Price 13,73  GBp
Spread / Highest target 67,6%
Spread / Average Target 49,4%
Spread / Lowest Target 31,1%
EPS Revisions
Managers
NameTitle
Mark Newton-Jones Chief Executive Officer & Director
Clive Peter Whiley Executive Chairman
Kevin Jonathan Rusling Chief Operating Officer
Glyn Hughes Chief Financial Officer & Executive Director
Nicholas Barry Edward Wharton Independent Non-Executive Director
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