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Mothercare swings to profit in fiscal H2

Mothercare PLC said its normalized net income for the fiscal second half ended March 28 came to £6.4 million, compared with a loss of £312,500 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue fell year over year to £341.2 million from £348.6 million, and total operating expenses decreased year over year to £330.6 million from £347.2 million.

Reported net income came to a loss of £19.9 million, or a loss of 13 pence per share, compared to a loss of £18.7 million, or a loss of 21 pence per share, in the year-earlier period.

For the year, the company's normalized net income totaled 10 pence per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 7 pence.

EPS was a loss of 5 pence in the prior year.

Normalized net income was £11.8 million, compared with a loss of £4.0 million in the prior year.

Full-year total revenue fell year over year to £713.9 million from £724.9 million, and total operating expenses fell year over year to £691.9 million from £727.0 million.

The company said reported net income came to a loss of £15.4 million, or a loss of 13 pence per share, in the full year, compared with a loss of £27.5 million, or a loss of 31 pence per share, the prior year.