Exuberant trade fuels Mamas & Papas: Nursery retail chain beats the high street trend by publishing a string of great results
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Turnover: Turnover rose to £126 million
Mamas & Papas has gone against a high street trend by posting a series of great results.
The turnover of the nursery chain, which designs and sells prams, pushchairs and baby clothes, increased by more than a third to £126 million in the year to March 2022.
Pre-tax profit rose to £6.8m, from £1.2m in the same period.
The positive trend continued in the half year to September, with sales up 17 percent.
Mamas & Papas is currently going through a lengthy turnaround.
The lavish trading is likely to revive speculation that private equity owner Bluegem Capital could soon sell.
The company has made concessions with clothing retailer Next. More are planned with Marks & Spencer.
Chief executive Mark Saunders said: ‘There are undoubtedly challenges from the ongoing crisis in the cost of living and the emerging economic downturn’.
But he said the nursery stock market has “proven its resilience.” Rival Mothercare’s decision to close all of its UK stores in 2020 also helped trade, he added.