Character Group releases first-half financials

Character Group has released its first-half financial statement, reporting that earnings are on target despite challenging macroeconomic factors including the weak sterling.

The company posted revenue of £61.5m in the half year ending February 28th, 2017, a drop of 5.7 per cent on the same period in 2016, which could be attributed to rising purchasing costs due to the weak pound. Underlying operating profit stands at £7.2m.

A statement from the firm reads: "In a period where a number of macroeconomic factors, particularly the weakness of sterling have worked against us and considering the backdrop of an exceptional period of growth experienced in the comparative period last year, our core brands have continued to perform well."

The report goes on to highlight top-performing IPs including Peppa Pig, Little Live Pets, Teletubbies, Mashems, Minecraft, Scooby Doo, Stretch and Fireman Sam which continue to demonstrate market strength and depth. Peppa Pig was named as the consistently top-performing brand; while Little Live Pets and Teletubbies complete the top three.

About Robert Hutchins

Robert Hutchins is the editor of ToyNews and its sister title, Licensing.biz. He has worked his way from Staff Writer to Editor across the two titles, having spent almost eight years with both and what now seems like a lifetime surrounded by toys. You can contact him by emailing robert.hutchins@biz-media.co.uk or calling him on 0203 143 8780 You can even follow him on Twitter @RobGHutchins if ranting is your thing...

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