Mothercare Posts H1 Profit

Mothercare PLC

posted a profit in the in the 28-week period to October 11. Mothercare swung to a half-year pretax profit of 5.5 million pounds ($8.6 million), versus a year-ago loss of GBP11.0 million. International like-for-like sales gained 4.9%, while UK like-for-like sales increased 1.5%. Worldwide sales slipped 0.7% to £633.1 million. Its underlying profit before tax climbed 65.0% to £3.3 million from £2.0 million. Mark Newton-Jones, Chief Executive of Mothercare plc, said, "Trading conditions remain challenging, but we are making progress building the foundations for the future of the business both in the UK and across our International territories. Our vision is clear, to be the leading global retailer for parents and young children."