Oldham toy specialist reports solid performance in trading update

Oldham-based toys specialist The Character Group said it has delivered a very solid performance and continues to make good progress in meeting the demands of its customers and the consumer.

The Character Group is involved in the design, development and international distribution of toys, games and giftware.

In a trading update ahead of the company’s results for the year to August 31, it said, as anticipated at the time of its interim results in April 2018, the group has witnessed a return to its previous growth pattern during the second half.

It revealed that, with Character’s UK domestic business delivering record sales, the trading results for the financial year ended August 31, 2018 will comfortably reach market expectations.

Character’s established leading brands, developed in-house – Peppa Pig, Stretch and Teletubbies – and exclusive, distributed lines, including Little Live Pets and Mashems, together with new ranges such as Pokémon, Treasure X and Doorables Disney Collection, have been selling extremely well, the group revealed.

In addition, the growing trend of new “craze” lines, including impulse purchase items at the right price point, such as Soft ʼn Slo Squishies, Cakepop Cuties and Cra.Z.Slimy, has added a new, successful supplement to the group’s strong product portfolio.

The group said: “We continue to witness positive listings and strong demand from our customers for our core ranges and new introductions.

“As a business, we feel confident of the prospects for the Autumn/Winter trading period, which includes the all-important Christmas season.

“This, we believe, will provide a solid foundation for the financial year ending August 31, 2019.”

It added: “With the combination of our collaborative culture, both within the group as well as in partnerships with our customers and suppliers, the agility of our business model in addressing changes and challenges within our market and the proven skills of our central management team, the board remains confident in the group’s ability to grow the business profitably and expand its presence both domestically and internationally in the years to come.”

The Group expects to release its preliminary results for the year ended August 31, 2018, on November 29.