LONDON (Alliance News) - Character Group PLC on Thursday said its earnings fell in its most recently ended financial year on slowdown in its international division.
The toy distribution company said pretax profit declined by 13% in the year to the end of August to GBP11.6 million from GBP13.4 million reported a year earlier, as revenue fell by 7.9% to GBP106.2 million from GBP115.3 million.
Selling & distribution costs rose to GBP7.4 million from GBP7.0 million, with administrative expenses growing to GBP17.9 million from GBP17.7 million year-on-year.
Character upped its annual dividend by 21% to 23.0 pence from 19.0p paid the year before.
The revenue generated in the year from UK sales increased to GBP87.1 million from GBP86.7 million, whilst revenue relating to the company's international sales was lower at GBP19.1 million compared to GBP28.6 million a year earlier.
Character noted that its core product ranges, such as Peppa Pig, Little Live Pets, Teletubbies and Stretch, have remained in demand during the year.
"The board is delighted to report that the group finished the financial year in a strong position, comfortably achieving market expectations," said Joint Managing Directors Kiran Shah and Jon Diver.
"This is a particularly pleasing outcome as it endorses the optimism that we expressed at the time of the first-half results announcement in April, when we projected that we would see a return to profitable growth progression during the second half of the year," added Shah and Diver.
Character shares were trading 3.0% higher on Thursday at 510.00 pence each.
Character (CCT)