Character details confidence in 2017 global sales in latest trading update

Ahead of its annual general meeting, The Character Group has revealed plans to continue developing its portfolio of in-demand products, in its latest Trading Update.

Despite feeling confident that the market expectation for the 2017 financial year will be achieved, Character believes the results for the first half will be lower than those reported in the comparative period last year.

According to the Group, in the four months to December 2016, sales were marginally lower than the same period last year, plus UK gross margin was negatively affected by the devaluation of sterling.

Despite this, the Group anticipates international and domestic sales to grow in the remainder of the financial year.

Reaction to 2017 product ranges and marketing plans have already proved promising, reports Character, while established brands such as Peppa Pig, Little Live Pets, Teletubbies, Minecraft, Fireman Sam, Scooby Doo and Stretch Armstrong remain strong.

In a statement, the Group said: “In summary, the Board remains confident about the future and we shall provide an update in April, when the half-year financial results for the period ending February 28th 2017 are released.”

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