Character Group releases first-half financials - ToyNews

Character Group releases first-half financials

The firm's performance reaches expectations despite a weak pound.
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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.

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