Crunch hits Character

The Character group has issued a profit warning ahead of the Christmas sales period, blaming low consumer confidence.

Author:: Ronnie Dungan
Publish date:: Nov 24, 2008

The credit crunch, which has become a full-blown recession, has impacted on the group which said retailers had cut back orders ahead of the key Christmas trading period due to a plunge in consumer confidence after the global financial crisis.

"They're very, very reluctant to take in inventory," Finance Director Kiran Shah said, adding Character had seen a "double digit" percentage drop in sales volumes in recent weeks.

Character said profit before tax for the year ended August 31st, 2008, was likely to be £5m ($7.5 million), in line with analysts' expectations.

The firm has forecasted that group turnover in calendar year 2009 will surge from £100m to £145m, based on confidence in a number of new lines.

Marketing

Full year results from Character Options show the firm holding its own against a fall in turnover and profit.

Marketing

The Character Group has issued a trading statement declaring a substantial increase in like for like sales during the first quarter.

Marketing

Character is launching a major marketing push for its food-play products.

Marketing

The Character Group are staying confident for the future as brands such as Peppa Pig and Teletubbies remain popular.

Media & PR

Character Options says Xmas sales were down 35 per cent in its latest trading statement, affected by the demise of Woolies.

Marketing

After a hugely successful 12 months and with high expectations for the year ahead, Character Options has revealed that it is currently in discussions with a possible suitor for the firm.