Retailer Mamas & Papas predicts growth
MAMAS & Papas said it predicts growth in the business will continue for the foreseeable future.
For the year ending March 31 2013, turnover at the Huddersfield-based nursery products firm, which launched its £1.4m flagship northern store in Trinity Leeds last year, increased from the prior year by £8.7m to £143.4m. The business said it experienced continued growth in overseas markets where turnover came in at £30.4m, up from £26.6m in 2012.
Mamas & Papas said: “During the year ended March 31 2014, revenue growth is forecast in all channels and the directors are of the opinion that the growth in the business will continue for the foreseeable future.”
The group described its performance as “satisfactory”.
In its latest accounts filed at Companies House, the group, which trades in 59 overseas markets, said it continues to seek opportunities in the UK and overseas and expects sales growth throughout the coming 12 months.
During the year, the brand has been launched in Russia and China and the group said has been continued growth in the USA, while at home in the UK, Mamas & Papas continued to grow its stores network.
The family-owned business, run by the Scacchetti family, also launched its one hour click and collect service and it has further expanded its children’s clothing range.
Group EBITDA (earnings before interest, tax, depreciation and amortisation) grew by 22% to £5.3m from £4.4m, despite a decrease in gross margin as a result of the difficult UK retail economy and the group said ongoing product development, international growth and increased volumes will improve margin performance in the coming years. After applying depreciation, amortisation and interest payable, the group made a retained loss for the period, after tax, of £635,000, compared to a £1m loss in 2012.
The business said it continues to develop its multi-channel offering through stores, online and mail order. During the year, the business launched its multi-channel offer with Amazon and Tesco in the UK and also launched a US ecommerce website selling direct to US consumers.
Mamas & Papas said: “The group continues to make significant investment in the development of world class, market leading products for the nursery industry and to explore opportunities for revenue growth in all sales channels including both potential new store locations to complement the existing store network and further international franchises in a number of countries around the world.”
