Nursery and childrenswear retailer Mamas & Papas expects to achieve record breaking turnover in its current financial year, helped by a solid Christmas performance and bumper Black Friday trade.
The company, which sells goods such as toys, clothes, prams and cots, said sales in the 13 weeks to December 31 jumped 17% from a year earlier.
Underlying profits were up 50%, with factors such as less promotions and disciplined cost control benefiting earnings.
Mamas & Papas, majority owned by private equity firm Bluegem, said it expects to deliver a record-breaking turnover and profits in the current year ending March 2024.
The prior year the group reported sales of £144 million, up from £126 million, while pre-tax profits improved to £8.2 million from £6.8 million and underlying profits rose to £10.9 million from £10.2 million, recently filed accounts show.
The chain which has over 50 stores and concessions across the UK and Ireland, also sells online and through stockists. It benefited in part from having a growing presence on high streets such as through concessions with Marks & Spencer and Next.
Nathan Williams, chief executive of Mamas & Papas, said: "Last year, despite a challenging inflationary environment, we backed our strategy and continued to invest in the brand and the business for both long-term sales and profit growth. That approach is bearing fruit in the current year."
He added: “We’re looking forward to building on the momentum we’re currently seeing into the next year, expanding our presence both in the UK and overseas as the category leader in nursery and baby products."
The company, the UK's biggest nursery retailer by market share, has also seen a ‘loved for life’ initiative, which provides services to resale, refresh or recycle items such as pushchairs, prove popular.
