Mamas & Papas reports a notable 7.1% sales increase to £154.3m for the year ending March 2024, driven by strategic expansion initiatives.
- Strong store performance with a 48% sales boost in UK concessions from partnerships with major retailers like Marks & Spencer and Next.
- Expansion efforts extend internationally with new concessions in Spain, Indonesia, and Thailand, enhancing brand reach.
- Profit growth is robust with underlying profit rising by 27% and pre-tax profit by 33%, reflecting strategic business investments.
- The retailer plans further domestic and international expansion, alongside digital advancements to maintain market presence.
Mamas & Papas has reported an impressive 7.1% increase in sales, reaching £154.3 million for the financial year ending March 2024. This growth has been largely attributed to the brand’s ongoing expansion into new store locations both in the UK and overseas. The nursery retailer has effectively attracted new and expectant parents, contributing significantly to its robust sales figures.
The company’s UK performance has been particularly strong, with a remarkable 48% increase in sales through its concessions at major retailers including Marks & Spencer and Next. This was bolstered by the introduction of six new destinations and the full-year sales contribution from 15 new locations that opened the previous year.
On a global scale, Mamas & Papas continues to extend its reach. It operates 28 overseas concessions with key partnerships with El Corte Ingles in Spain, MAP Active in Indonesia, and Central Department Store Group in Thailand. These ventures underline the retailer’s commitment to a broad international presence.
Financially, the company is on solid ground with underlying profit (adjusted earnings before interest, tax, depreciation, and amortisation) rising by 27% to £13.2 million. Furthermore, the company saw a 33% uplift in adjusted pre-tax profit, reaching £9.1 million. These figures highlight the success of investments made in brand development and operational efficiency.
The future strategy for Mamas & Papas includes a focus on enhancing its international partnerships and exploring new markets. This approach is complemented by digital advancements aimed at increasing its market share in the UK. The company remains dedicated to ensuring accessibility to its products across different platforms, reflecting its strategic prioritisation of customer connection.
Mamas & Papas continues to thrive, driven by strategic expansions and impactful international presence, showing strong financial resilience and growth.
