‎The Press Association:
Babycare retailer Mothercare has said strong growth overseas would offset a “more challenging” consumer climate in the UK this year.
The company hailed a record year for its international arm after sales jumped 21% to £490.9 million, helped by the launch of Mothercare in Australia and the Early Learning Centre in South Africa.
Mothercare – which now has 1,115 stores in 52 countries – saw its fourth successive year of like-for-like sales growth in the UK but is “planning cautiously” for more sluggish conditions as shoppers feel the squeeze.
Underlying annual profits for the year to March 31 rose 17% to £52 million, in line with City forecasts.
Mothercare is driving its overseas operations through franchising, which allows it to profit from royalties on international sales for the use of its brands without heavy capital investment.