Brief: Mothercare Says HY Adjusted Profit Before Taxation 1.8 Million Stg Versus 1.7 Million Stg

Mothercare

24/11/2023 07:18

Nov 24 (Reuters) - Mothercare PLC  MTC.L :
    * CONTINUE TO EXPLORE OPTIONS TO FURTHER MITIGATE PENSION
SCHEME
CURRENT DEFICIT OF £35 MILLION
    * HY ADJUSTED PROFIT BEFORE TAXATION 1.8 MILLION STG VERSUS
1.7
MILLION STG
    * HY TURNOVER 29.0 MILLION STG VERSUS 38.5 MILLION STG
    * PERFORMANCE IN MIDDLE EASTERN REGION, ESPECIALLY KINGDOM
OF
SAUDI ARABIA, REMAINS CHALLENGING
    * REMAIN CONFIDENT OF LONGER-TERM MARKET OPPORTUNITY IN
SAUDI
ARABIA
    * AWARE OF ONGOING PRESSURE EXERTED ON FRANCHISE PARTNERS'
PROFITABILITY & NEED FOR THEM TO REDUCE COSTS
    * PRESSURES WILL LIKELY LEAD TO FURTHER REDUCTIONS IN OUR
STORE
FOOTPRINT IN SOME REGIONS
    * DO NOT EXPECT COMBINED EFFORTS TO OFFSET FULL IMPACT ON
GROUP
RESULTS FOR FINANCIAL YEAR TO MARCH 2024 AND BEYOND
    * CONTINUING REFINANCING TALKS WITH GBB TO VARY DEBT
FACILITY
ALONGSIDE EXPLORING VARIOUS FINANCING ALTERNATIVES
    * GROUP DOES NOT REQUIRE ADDITIONAL LIQUIDITY IN CO'S
CURRENT
FORECASTS
    * MEDIUM-TERM GUIDANCE FOR STEADY STATE OPERATION, IN MORE
NORMAL
CIRCUMSTANCES, IS UNCHANGED

Source text for Eikon:  ID:nRSX5320Ua 
Further company coverage:  MTC.L 

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