mothercare annual report 2018

The Group's policy is to exclude items that are considered to be one-off and signi cant in both nature and/or value and where treatment as an adjusted item provides stakeholders with additional useful information to assess the year-on-year trading performance of the Group. In May 2018 the Group entered a refinancing and funding review, resulting in an equity raise, four Shareholder loans, two CVAs (Mothercare and ELC) , and the amendment to the Group's banking facilities. Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. In addition in this scenario, it is likely that the Group would require additional short term financial support in order to retain sufficient cash available for the business to remain liquid over the period reviewed. If a person is unsatisfied with his/her shopping experience, he/she may not visit the shop again.

The Group reports some financial measures on both a reported and constant currency basis.

The original name “Mothercare” said it all. (2018 Annual report, 2018) The closures will significantly dwindle the fixed cost, including the rent, equipment in the stores and wages for salesperson.

For this reason, the continuing administrative expenses disclosed do not necessarily reflect the ongoing corporate cost base of the business. Comparatives are based on the 53 week period to 30 March 2019. o Transitioned the business to refocus on brand management and the design, development and sourcing of product to support international franchise partners.
We also continue to make progress with the search for a new Chief Executive Officer and a further announcement will be made when we conclude the recruitment process. On 5 November 2019, administrators were appointed for MUK and MBS, two subsidiaries of Mothercare PLC. The impact to the Group's franchise partners was felt through the closure of 73% (at the peak of the closure period) of their store portfolio across their retail estates. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. International like-for-like sales are the estimated franchisee retail sales from stores that have been trading continuously from the same selling space for at least a year.

As at the current date, ports and factories have re-opened and supply has recommenced. -- Revolving credit facility: the GBP21.0 million reflects the cash proceeds from the wind-up of the UK operations expected to be used by the administrators, PwC, to part-repay this loan.

-- Total profit for the year achieved of GBP14.4 million (2019: GBP97.0 million loss) included a gain on the loss of control of the Group's main trading subsidiary Mothercare UK Limited, and a shared service entity, Mothercare Business Services Limited of GBP46.2 million. Fees of GBP5.9 million associated with these activities were recognised as adjusted costs.
On an adjusted basis, pre-tax profit plunged 88.3 per cent year-on-year from £19.7 million down to a mere £2.3 million, although this is in line with guidance given in January. -- reduce net debt , as noted later in this report, taking into account the proceeds of the additional financing and the subsequent estimated shortfall in recoveries from the administration processes. At the point of transition, lease liabilities of GBP119.1 million were created alongside corresponding right-of-use assets of GBP64.4 million.

Barclays PLC Environmental Social Governance (ESG) Report 2018 Our ESG strategic priorities and performance, reported against a range of quantitative and qualitative indicators. Terms and conditions relating to the use and distribution of this information may apply. Due to reduced revenues following the impact of COVID-19 and the costs associated with restructuring, the Group expects to make a small EBITDA loss for the current year though this is dependent upon our franchise partners' retail outlets avoiding further lockdown in their respective territories. The comparatives for the 53 week period ended 30 March 2019 have been restated for certain prior year adjustments, and for the discontinued operations arising as a result of the loss of control of the UK operating segment, and the disposal of the ELC brand and assets in that year. The Group had previously considered that the lease would be extended indefinitely and therefore that any dilapidations amount would not be significant, however the detailed review showed a more reflective picture, and this is therefore considered an adjustable error as management could have had access to this information or prepared an estimate of the dilapidations at this site in the previous financial years. Accordingly I am delighted to confirm that Mothercare is now well positioned to become a profitable and cash generative franchise operation, generating revenues through an asset-light model, operating in some 40 international territories. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs.

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