Mothercare FY Pretax Loss Narrows

reported a narrower pretax loss for the year to March 28. Mothercare posted a pretax loss of GBP13.1 million for the year, compared to a year-ago loss of GBP26.3 million. Underlying profit before tax rose to 13.0 million pounds from 9.5 million pounds, while loss per share narrowed to 12.6 pence from 31 pence. Its revenue slipped to GBP713.9 million ($1.11 billion) from GBP724.9 million. U.K. sales declined 0.9 percent, while international sales rose 2.2 percent. Online sales climbed 18 percent in the same period. "This year has been one of major change for Mothercare. We recruited a new CEO and CFO, entered into new financing arrangements with our banks, saw off an unwelcome takeover approach and successfully completed a rights issue," Alan Parker, Chairman, said.