Mothercare announces fall in profits

Mothercare posted a 52% fall in half-year profits today after the retailer took a hit from its acquisition of the Early Learning Centre (ELC).

The company, which has several outlets in Ireland, booked losses of £2.9m (€4m) from the first 16 weeks of its ownership, on top of a £4.4m (€6.1m) charge for restructuring the business.