Mothercare H1 profits bounce

17th Nov 2010 07:14

Mother and baby retailer Mothercare produced a 22% surge in half yearly profit and increased its dividend as global sales continued to flourish compared to a weaker UK performance.For the 28 weeks ended 9 October 2010 underlying pre-tax profit increased to £12.2m. Group sales were up 2.5% at £397.1m.International retail sales were up 17.3% while profits surged 33.9% but UK sales fell 0.4%."We now have 860 stores overseas in 53 countries and are on track to meet our new target to open at least 150 in total this year," Mothercare said. "In the UK which remains challenging, the important property restructure is progressing well, Direct continues to grow strongly and our new Wholesale channel was boosted by the successful launch of mini club, our new clothing partnership with Boots," it added.An interim dividend of 6.4p has been offered, up 16.4% from 5.5p in 2009."The UK consumer environment remains uncertain and we continue to plan cautiously," it added.