Business

Return to profit for Mothercare

MOTHERCARE hailed a return to profit as international sales boomed and a slimmed-down UK operation narrowed losses. The underlying profit figure of £2 million for the 28 weeks to October 12 compared to a loss of £1.8m for the same period last year. However, restructuring and other costs took their toll on the bottom line, meaning the group was still in the red overall by £11m. Chief executive Simon Calver said: "The benefits of the changes we are making to the business are clear, with a return to underlying profit. Our international business continues to deliver double digit growth and the opportunities in these markets remain." Like-for-like sales in the UK were down 1.4 per cent, narrowing from a 3.4 per cent slump in the same period last year while underlying losses of £14.9m were £2m less than the previous corresponding period.