Mar 2, 2018

Mothercare shares slide on profit downgrade

Shares in Mothercare fell sharply on Friday after the baby goods retailer warned that profits would be at the lower end of expectations. The also retailer said it may breach its lending agreements and was seeking additional sources of funding. Chief executive Mark Newton-Jones said trading had become "More challenging". The warning that annual profits were likely to be closer to the bottom of the £1m to £5m range sent shares down 14% to 21.3p in afternoon trading. Mothercare expected its net debt to be slightly lower than the £50m it had forecast.

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