Sales growth for Simba Dickie as it totals €645 million for 2017

The growth equates to roughly 3.3 per cent increase on 2016 financials
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The growth equates to roughly 3.3 per cent increase on 2016 financials

The Simba Dickie Group has posted an increase in sales in its 2017 financials, totalling €645 million in consolidated sales for the year.

Adjusted for foreign exchange rates, this equates to an increase of roughly 3.3 per cent compared with 2016.

Growth in sales through core companies Simba and Dickie in Europe have fuelled a sense of optimism among the company which has seen a higher growth than the market rate in the group's key European markets.

"Yet another cause for optimism in 2017 was the fact that the Simba Dickie Group, through two of its core companies, the Simba Group and the Dickie Group, achieved an increase in sales that was above the overall growth rate in the countries in which it predominantly operates," said the group's CFO, Manfred Duschi.

The company's overseas subsidiaries also detailed higher sales again in 2017, albeit with a slightly smaller increase than last year due to its streamlining processes and consolidation activities.

Some of the firm's year on year increases have been attributed to the merger of Smoby Toys Hong Kong into Simba Toys Hong Kong and Smoby Toys Deutschland into BIG, which saw Smoby's percentage of sales being attributed to the Simba Group in 2017.

The financial report emerges from a period of heavy consolidation for the firm, who recently shaved employee numbers as part of its streamlining activities at overseas subsidiaries, particularly in Russia, the Middle East and India.

Last month, the firm positioned itself to acquire all of the assets of the French doll manufacturer Corolle, a subsidiary of Mattel.

If the transaction proceeds, the Simba Dickie Group would establish a new French company in the legal structure of an SAS (Simplified Joint-Stock Company). Upon completion of the transaction, the new subsidiary of the Simba Dickie Group would acquire the assets and run the business in Corolle's existing location in Langeais, with all employees under Simba's new leadership.