Late Christmas present for toy firm
OLDHAM-based toy company Character Group is celebrating a strong performance in its key autumn and Christmas campaign which has helped deliver a 24% increase in revenue to £58.16m (HY2014: 46.87m).
Its half yearly financial report also trumpets a spectacular £178% jump in pre-tax profits to £8.67m (HY2014: 3.07m).
Dividends per share rose to 5p compared to 3.3p at the same stage last year.
Character said Cornerstone brands in the portfolio including Peppa Pig, Scooby Doo, Doctor Who, Fireman Sam and Weebles continue to sell well “and, more importantly, are adored by the consumer”.
Others such as Teksta, The Zelfs, Shimmer ‘n Sparkle, Little Live Pets and Minecraft are also established in the market and are also helping it achieve record sales.
The company also said it planned the introduction of new product lines such as Clangers, Ugglys Pet Shop, Yummy Nummies and Teletubbies.
Executive chairman Richard King said: “Overall, we were very encouraged by trading in the run up to the crucial 2014 Autumn/Christmas season, where we witnessed strong sales.
“Pleasingly, this continued through Christmas and assisted us to deliver a strong first half, which was ahead of management expectations.
“We are very fortunate at this time to have both strength and depth across our brands. Our diverse product portfolio which we market at ‘great price points’ and ‘value for money’ should provide the platform for ongoing growth.
“Current trading remains very encouraging. We have had a great reception to our product portfolio from both the retailers and media, this follows on from our customers’ reactions to our offer at various trade expos.
“Therefore, against this backdrop we expect this season’s ranges to deliver in terms of demand and sales at consumer level across both our UK and international markets,” he added.
Character Group said it is on track to meet market expectations for the year ending August 31.
