Shares in the firm declined 50 per cent to 68.5 pence after it warned sales of its remote-control Daleks were “slower than anticipated” due to the “difficult trading environment”, a report in The Telegraph says.
The firm’s revenues for four months to December 31st will be 18 per cent down on last year. However, its 2008 product range has received “a very positive reaction” from major retailers it says.
The firm said in a statement: “The directors have noted that retail sales for Christmas 2007 started late and that the market has not recovered from this belated seasonal start.'
Compared to 2006, sales across the industry have fallen by six per cent in the last five weeks, following a similar decline in October, according to the BTHA.
The BTHA has labelled the fall is “unprecedented” and expects it to continue.
David Hawtin, director general, said: “Unless something major happens in the next few days, we would expect a similar fall in December.”