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Character Group PLC - Surrey, England-based toy, games and gifts manufacturer - Revenue for the four months to December 31 is down 42% against the comparative period in 2021, with US sales suffering a particularly marked drop. Character says it remains optimistic that an anticipated rebound will come through strongly in the second half and that it will be profitable for the financial year as a whole. However, sales and pretax profit are expected to be marginally below current market expectations.
"The group has a strong product portfolio of both in-house developed and distributed products and our customers have shown great enthusiasm for our offering at previews," Character adds.
In the financial year that ended August 31, pretax profit fell 25% to GBP11.4 million from GBP15.3 million, even as revenue rose by 26% to GBP176.4 million from GBP140.0 million.
Current stock price: 375.00 pence each, down 8.5% on Friday morning in London
12-month change: down 40%
By Xindi Wei, Alliance News reporter
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