Baby goods firm Mamas and Papas has returned to profit after weathering the Covid storm and benefitting from troubles at its main competitor.
The Huddersfield company has released accounts for the year ending March 31 2021 which show that its turnover reached £71.5m, having been at £36m for the six-month period earlier. A £3.9m loss for the previous period was turned into a £1.1m profit.
The company said it had suffered when shops were shut in the pandemic lockdowns, but had seen an increase in online sales and also benefitted from the demise of Mothercare, which had been the largest firm in its sector.
The company said: “The company performed very well during the Covid-19 pandemic despite its substantial impact on the financial year. Trading varied for the group, being significantly ahead of the prior year when all sales channels were open, but challenging during the six months of Covid-19 lockdown periods when the stores were temporarily closed.
“The company was impacted by a significant increased in online sales, partly because of store closures and partly due to the successful launch of a new web platform towards the end of the year.
“Mamas and Papas also benefitted from the liquidation of the market leader in the nursery market, Mothercare UK, in January 2020. This left a large gap in the market as their turnover was circa £300m per annum.
“To capitalise on the opportunity, the group opened two new concession stores and a new own retail store and launched own brand and branded products which have contributed to a considerable growth in market share during the year.
“In international wholesale, Covid-19 also had an impact on sales as countries around the world had various lockdown periods and trading restrictions.”
The company said had benefitted from the Government’s Job Retention Scheme and other support package, as well as a loan from its parent company and an increased overdraft.
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