Character half yearly financials announced
A strong performance despite being slightly down mainly due to exchange rate fluctuations and the demise of Toys R Us
Character’s half yearly financial results have been released and while the company posted figures slightly down on 2017 its leading in-house ranges include Peppa Pig, Stretch, Teletubbies and Scooby Doo and our exclusive, third-party lines include Little Live Pets and Mashems continue to trade well.
In the statement the company said: “Although trading in the first half was lower when compared to 2017, we believe that in view of the sector disruption and upheaval, Character delivered a very solid performance in what has been a very turbulent time at the retail level. We continue to have great strength and depth across our brands and a wide range of long-term customers and suppliers; potential concentration risk is well diversified. Listings and support from our customers for our 2018 ranges have been very positive and many share our optimism for the prospects for our lines and sales in the coming Christmas season. Therefore, we are confident that the performance of our core ranges, together with new introductions, will result in further growth in demand for our products, in the calendar year ahead.”
The company's strategic focus remains unchanged: “to seek and develop exciting products which meet domestic and international market demand.” We closely study trends and opportunities in the market to build on this position, with timely new brand and product additions, and remain sensitive to product life cycles and changes in the composition of our major customer base and the industry landscape generally.”
The Group is looking forward to improved trading conditions and says:“The Directors remain optimistic that the business will see a return to its previous growth pattern during the second half of this financial year and this will be fully reflected and significantly strengthen the trading results for the financial year ending 31 August 2019.” The Half Yearly Financial Report for the six months ended 28 February 2018 and will shortly be available for viewing and download on the Group’s website www.thecharacter.com