“The cash generative nature of our model has ensured that the Group’s balance sheet has strengthened and remains strong.”
Character Group has reported its preliminary year-end results for 2017, showing a solid performance with with underlying profit before tax of £13.4m, up from £12.6 in FY 2016.
The firm's leading brands Peppa Pig, Little Live Pets, Stretch, Mashems, Teletubbies, continue to perform well.
Master toy licences for both Peppa Pig and Teletubbies have been renewed for a further three years, and appointed master toy distributor in UK and Ireland for the globally popular Poke?mon brand, ahead of a planned Summer 2018 launch.
“The business has had a solid finish to the 2017 financial year - in line with current market expectations,” reads the statement from the firm.
“Even in the current tough trading conditions, we expect our cash flow to remain positive, our reserves to grow and our Christmas stocks to remain firmly under control.”
“We are currently previewing the Christmas 2018 product range with our major customers and we are delighted that they share our enthusiasm and excitement for our planned launches in the year ahead. Our range of established brands and the introduction of new product lines will, we believe, serve to deliver a very exciting season ahead for the business,” the firm concludes.