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UK's Mothercare says it expects to complete refinancing shortly
  + stars: | 2023-09-22 | by ( ) www.reuters.com   time to read: +1 min
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
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