StockMarketWire.com - Mothercare reported a pre-tax loss of £6.2m on Thursday as it warned that trading conditions would remain volatile for the remainder of its financial year.

The company reported an adjusted pre-tax loss of £6.2m in the 28 weeks to 6 October. This compares with a £2.6m loss in the prior-year period.

Worldwide sales, meanwhile, came in at £566.1m, 9.8% below the levels seen in the same period in 2017, impacted by wider market uncertainty and negative press coverage.

However, the company said it had completed the capital restructuring of the business, its cost-saving initiatives were on schedule and its UK store closure programme would be completed earlier than planned.

But while the firm's international business showed some signs of recovery, the UK retail environment remained "very challenging" it said.

"Given the ongoing uncertainty with consumer confidence, alongside the short-term impacts of our operational changes and restructuring programme, we expect performance in the remainder of our financial year to remain volatile," CEO Mark Newton-Jones said.

After this period, however, the CEO said the company was confident that their strategy would "ultimately reinvigorate the business".






At 8:22am: [LON:MTC] Mothercare PLC share price was -1.39p at 16.17p



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