March 2, 2018 / 12:17 PM / 4 months ago

BRIEF-Mothercare Says ‍Expects FY Adjusted PBT To Be At Lower End Of Guidance Range Of 1-5 Million Pounds​

March 2 (Reuters) - Mothercare Plc:

* SHARE PRICE MOVEMENT AND MEDIA SPECULATION

* ‍NOTES RECENT MOVEMENTS IN ITS SHARE PRICE AND MEDIA SPECULATION AND PROVIDES AN UPDATE​

* T‍RADING AND FINANCIAL PERFORMANCE HAS REMAINED BROADLY IN LINE WITH BOARD’S EXPECTATIONS​

* ‍NOW EXPECT NET DEBT AT YEAR-END TO BE SLIGHTLY BETTER THAN £50 MILLION PREVIOUSLY GUIDED​

* ‍EXPECTS FY ADJUSTED GROUP PROFIT BEFORE TAX TO BE AT LOWER END OF PREVIOUSLY GUIDED RANGE OF £1-5 MILLION​

* WORKING WITH FINANCING PARTNERS WITH RESPECT TO FINANCING NEEDS FOR FY19 AND BEYOND​

* ‍EXPLORING ADDITIONAL SOURCES OF FINANCING TO SUPPORT AND MAINTAIN MOMENTUM OF TRANSFORMATION PROGRAMME​

* ‍FORECAST BORROWINGS TO INCREASE TOWARDS LIMIT OF TOTAL COMMITTED AND NON-COMMITTED FACILITIES AT VARIOUS POINTS FROM START OF NEW FINANCIAL YEAR​

* CO ‍WILL REQUIRE WAIVERS OF CERTAIN FINANCIAL COVENANTS​

* ‍BUSINESS IS ALSO CONTINUING WITH ITS PLANNED STRATEGY OF REDUCING UK STORE ESTATE WHILST INCREASING DIGITAL CAPABILITIES​

* ‍DISCUSSIONS ON WAIVERS OF FINANCIAL COVENANTS AND ADDITIONAL FINANCING ARE ONGOING​ Source text for Eikon: Further company coverage:

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