Mamas & Papas sales jump in latest year
Specialist parent-and-baby retailer Mamas & Papas has filed its accounts for the year to the end of March with the company reporting turnover up to £93.5 million from £71.5 million a year earlier.
It also said that EBITDA for the year was £1.4 million, much better than the £0.1 million of the previous 12 months.
Pre-tax profit was £821,000 after a loss of £311,000 in the previous year. But the net profit figure was actually a loss of £93,000, after a profit of £1.14 million in the previous year. The company incurred various exceptional costs during the year
It said that overall, the business performed "exceptionally well" in the financial year, a view supported by that roughly 30% increase in sales and more-than-10-times growth in EBITDA.
Of course, it's only to be expected that sales would be significantly ahead of the prior year, partly due to the Covid-related store closures in the previous period. But the firm said it was also partly due to increased market share, driven by extended product, ranges and growth in its retail space.
The company added that it continued to benefit from the liquidation of the market leader in the nursery market — Mothercare — in January 2020.
While Mothercare is now represented in Britain by Boots, its physical presence in the UK remains lower-key than it was previously.
With that in mind, Mamas & Papas, opened nine new concessions during the year, as well as launching own-brand and branded products that have contributed to “a considerable growth in market share”.
The company said that in international wholesale, turnover also increased, although at a slower rate. That came as the pandemic continued to have an impact on sales in countries around the world due to various lockdown periods and trading restrictions.
But good news was that the sales and profits performance during the year also generated enough cash to allow the group to repay £7 million of shareholder loans.
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