Mothercare PLC Statement re Australia

 
TIDMMTC 
 
MOTHERCARE PLC 
                              Update on Australia 
 
Following  the deterioration of trading conditions in Australia, as announced in 
November  2012, a  decision  was  taken  by  our  associate Mothercare Australia 
Limited(1  )to sell its  Mothercare and Early  Learning Centre businesses to The 
Myer   Family   Company   Holdings   Pvt   Ltd.  These  discussions  have  ended 
inconclusively   and  Mothercare  Australia  Limited(1)  has  been  placed  into 
administration. 
 
In November 2012, Mothercare plc made a provision of ÂGBP10.6 million, covering the 
remaining  value of its investment in  and other receivables due from Mothercare 
Australia   Limited(1).   Since   then  receivables  from  Mothercare  Australia 
Limited(1) have been tightly controlled on short payment terms. 
 
Mothercare  Australia Limited(1)  accounts for  circa 7% of International retail 
sales.  The expected profit  impact is minimal  and does not  change our overall 
view of International profitability going forward. 
 
Apart  from  the  information  contained  in  this  update,  there  has  been no 
significant change to the financial position of the Company. 
 
Note 1: Mothercare Australia Limited is a separate entity in which the UK quoted 
company Mothercare plc has an indirect minority stake. 
 
Enquiries to: 
Mothercare plc 
Ramona Tipnis, Director of Investor Relations                 01923 206455 
 
Tulchan Communications 
Katharine Wynne & Susanna Voyle                               020 7353 4200 
 
 
 
 
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(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: Mothercare Plc via Thomson Reuters ONE 
[HUG£1674043] 
 

(END) Dow Jones Newswires

January 30, 2013 02:12 ET (07:12 GMT)