Buoyant trading boosts Mamas & Papas
MAMAS & PAPAS has bucked a high street trend by posting a bumper set of results.
Sales at the nursery store chain – which designs and sells prams, pushchairs and baby clothing – jumped by more than a third to £126million in the year to March 2022.
Pre-tax profits leapt to £6.8million from £1.2million in the same period.
The positive trend continued in the half year to September, with sales up 17 per cent.
Mamas & Papas is currently completing a protracted turnaround.
The buoyant trading is likely to revive speculation that private equity owner Bluegem Capital may soon look to sell.
The company has opened concessions with clothing retailer Next. More are planned with Marks & Spencer.
Chief executive Mark Saunders said ‘there are undoubtedly challenges from the continuing costof-living crisis and emerging economic downturn’.
But he said the nursery products market had ‘proven its resilience’. Rival Mothercare’s decision to close all its UK stores in 2020 also helped trading, he added.