Moving down27 Apr 2017 20:18
Weak sterling took a toll on the half year results for The Character Group (CCT), where revenue fell by 5.7 per cent to £61.5m and pre-tax profits were down by a quarter to £6.5m. The owner of Pepper Pig and Scooby Doo makes most of its purchases in US dollars but has begun to look for ways to make the group more efficient to mitigate this risk in the future. Shares were down 5 per cent in early trading, but recovered by close. Knock-on effect here?
That said, lots in the pipeline for ETO not shown in current price.