WH Ireland has retained its 'outperform' rating on after the baby products retailer's results came in ahead of the broker's expectations. The group saw group pre-tax profit more than double at the interim stage thanks to rapid growth overseas and in the direct sales channel. Profit before tax in the 28 weeks to 11 October rose 124.6% to £13.7m from £6.1m a year earlier, on sales that rose 9.3% to £359m from £328.5m. WH Ireland expects Mothercare to maintain its forecasts for the full year. While its shares should see some volatility in the short-term, the firm has an attractive price-earnings ratio of nine times, the broker said.
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