Today’s trading update from Mothercare demonstrates that the hard work of restructuring and refinancing in recent years has borne fruit with underlying FY22 EBITDA expected to be in line with our forecasts despite the loss of the key Russian market in March. The pension deficit continues to shrink rapidly (as defined by a second desk exercise) and we now expect pension cash payments to halve. FY23 will be a tough year but we expect the business to pivot quicker to new growth opportunities to com ....
11 Apr 2022
Mothercare - Good news on pension deficit offsets tougher outlook
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Mothercare - Good news on pension deficit offsets tougher outlook
Mothercare plc (MTC:LON) | 5.6 0 0.0% | Mkt Cap: 31.4m
- Published:
11 Apr 2022 -
Author:
Michael Clifton | Nigel Parson -
Pages:
4
Today’s trading update from Mothercare demonstrates that the hard work of restructuring and refinancing in recent years has borne fruit with underlying FY22 EBITDA expected to be in line with our forecasts despite the loss of the key Russian market in March. The pension deficit continues to shrink rapidly (as defined by a second desk exercise) and we now expect pension cash payments to halve. FY23 will be a tough year but we expect the business to pivot quicker to new growth opportunities to com ....