Mamas & Papas increases sales and profit

Mamas & Papas sales for the year ending March 27, 2023 increased to 144 million pounds, while EBITDA rose to 10.9 million pounds and operating profit to 8.4 million pounds.

The company said in a filing that retail sales were 31 percent ahead of the prior year with sales in concession stores doubling due to the 15 new store openings and positive impact of 10 store openings in the prior year.

The company added that roll out of new concessions is a part of its strategy leveraging existing relationships with Next and M&S.

Mamas & Papas digital sales improved by 9 percent and wholesale sales increased by 13 percent. On the international front, the company opened a shop-in-shop with a retail partner in Spain.