Mamas & Papas has reported a notable increase in sales for the year ending 31 March 2024.
- Sales rose by 7.1% to reach a record £154.3 million, driven by store expansion initiatives.
- Profitability improved significantly with a 27% increase in underlying profit and a 33% rise in pre-tax profit.
- The company’s UK and overseas concessions notably boosted sales, reflecting strategic growth.
- Mamas & Papas plans to increase its market presence through international expansion and digital enhancement.
Mamas & Papas reported a significant rise in sales, amounting to £154.3 million for the 12 months concluding on 31 March 2024. The increase of 7.1% from the previous year was largely attributed to strategic store expansions both domestically and internationally.
The company’s financial growth is underscored by a 27% increase in underlying profit, reaching £13.2 million, and a 33% rise in adjusted pre-tax profit, amounting to £9.1 million. This growth is reflective of Mamas & Papas’ successful market strategies, which include expanding their retail and e-commerce channels.
Key to this success was the enhancement of their presence through 36 UK concessions with prominent retailers such as Marks & Spencer and Next. These outlets experienced a 48% increase in sales, bolstered by the addition of six new concessions and the full-year impact of 15 locations established in the prior year.
Internationally, Mamas & Papas has extended its reach with 28 concessions across countries like Spain, Indonesia, and Thailand. This international operation has become a core part of their strategy to enhance brand accessibility and market share.
Nathan Williams, Chief Executive Officer, highlighted the company’s focus on strengthening customer connections and expanding the range of offerings. By leveraging data capabilities, Mamas & Papas tailors its support to parents, aiming to become the most accessible brand in its sector.
In anticipation of the festive season, the company has diversified its product range to include an array of gifts and toys, underpinning its commitment to meet diverse consumer needs.
Mamas & Papas’ strategic efforts in expansion and digital innovation have significantly strengthened its market position.
