Mothercare FY profit little changed

20th May 2010 07:13

Kids' clothes and equipment retailer Mothercare said underlying full year pre-tax profit was little changed but international sales saw an impressive 21% rise. Underlying profit before tax rose to £37.2m for the 52 weeks ended 27 March 2010 from £36.9m previously. Pre-tax profit fell to £32.5m from £42m after it was hit by a charge of non-underlying items. Group sales for the year rose to £766.4m from £723.6m before. "The year finished with a more challenging consumer environment in the UK and strong growth in International. We expect this pattern to continue into 2010/11 and we are planning cautiously," said chief executive Ben Gordon.Total International sales rose 21.4% to £490.9m while like-for-like international sales rose 2.2%. Sales at UK stores open over a year increased 3%."Overall we are well placed going forward, with our rapidly growing International platform, strong cash flow and debt free balance sheet," Gordon added. A total dividend of 16.8p has been offered, up from 15.9% in 2009.