Profits hit £5.9m mark at toy firm

Oldham based toy firm the Character Group said operating profit was up more than £1m to £5.9m for the last six months.

Revenues were also up by more than £8m to £58.8m.

The firm said it has delivered a strong first half performance and the directors remain optimistic about the progress the business will make over this calendar year and the important 2019/20 winter season.

Leading in-house ranges include Peppa Pig and Stretch, and exclusive, third-party lines including Little Live Pets and Pokémon, all continue to trade well.

Character also continues to add exciting, innovative ranges, such as Hair Dooz, Odditeez Ploppz, and OMG pets

Impulse buying at the right price point is a growing trend and Character has successfully tapped into this category with innovative new trend lines being sourced and introduced regularly.

Brands currently include Cra.Z.Slimy, Treasure X and Bubbleezz.

The group will be introducing further new products and range extensions to its portfolio in the coming months, which will further enhance and strengthen the firm’s product offering for the coming year.

The board remains confident in its strategy and the Group’s flexibility to adapt to change.

Group trading remains in line with management expectations and market consensus.