Toy maker’s profits on the up

CASDON, the Lancashire toy designer and manufacturer, has reported a sharp improvement in first half profits.

The Blackpool company which makes miniature products under license from the likes of Dyson and Hotpoint for children to enjoy, said profits in the six months to the end of October 2011 more than doubled from £127,900 to more than £317,000.

Revenue in the period was  £3,3m, marginally ahead on the £3.2m seen in 2010.

Chairman Paul Cassidy said UK sales had increased significantly, with the doubling of shipments to online retailers, and “excellent” sales to the major supermarkets.

He noted though that this success had come at the expense of independent high street retailers.

He said: “Looking forward to the second half year, sales for November and December have been broadly in line with expectations, and reflect the pattern of the general retail trade.”

Casdon said it would pay shareholders an interim dividend of 1.5p per share, up from 0.75p a year ago.