UK's Mothercare Plc at record low after annual profit plunges

Mothercare

22/09/2023 08:41

** Shares of British baby products retailer Mothercare
 MTC.L  down 15.7% to 3.5p at its record low
    ** FY core profit falls 44%, turnover down 11%
    ** Expects to complete a refinancing shortly and will remain
in discussions with stakeholders and financing partners to
ensure adequate financing
    ** For first 25 weeks of FY24 franchise partners business'
retail sales down 15% due to continuing challenges in Middle
Eastern markets
    ** Says total cash dropped ~23% as of March 25
    ** Including session moves, shares down ~43% YTD





($1 = 0.8142 pounds)

 (Reporting by Anchal Rana in Bengaluru)
 ((Anchal.Rana@thomsonreuters.com; +91 9915609050;))