Sept 22 (Reuters) - Mothercare (MTC.L) expects to complete a refinancing shortly and will remain in discussions with stakeholders and financing partners to ensure adequate financing, the British baby products retailer said on Friday.
Mothercare also posted a 44% drop in its full-year adjusted core profit to 6.7 million pounds ($8.21 million), which sent the London-listed company's stock tumbling 15.6% in early trade.
The company has been struggling with the unprecedented demand shock caused by the pandemic, the Russia-Ukraine conflict and high interest rates.
Its total cash was 7.1 million pounds as of March 25, down from 9.2 million pounds, a year ago.
($1 = 0.8159 pounds)Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.
Persons:
Mothercare, Daniel Le Vesconte, Aatrayee Chatterjee, Savio D'Souza
Organizations:
Thomson
Locations:
London, Russia, Ukraine, Bengaluru