Mega Brands reports more sales growth

However profits dip slightly compared to last year's Q3.
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Mega Brands' net sales went up by four per cent to $133 million compared with $128.3 million in the same period last year.

The figures were revealed in Mega's third quarter earnings call for the three months ending September 30th.

The toy maker made a profit of $17.4 million, down from $18.3 million as operating expenses crept up slightly.

Stateside, sales went up six per cent with an international increase of two per cent as the company saw equal growth in its toy and stationery & activities categories, which were both up four per cent.

Mega said that its overall sales performance compared favourably to its competitors, considering the 'cautious mood of retailers who are managing inventories tightly due to economic uncertainty.'

Marc Bertrand, president and CEO, said: “We continue to build momentum in our toy business with retail sales running ahead of shipments and positive movement at retail for our 2011 products, while seeing clear signs that the recovery in stationery and activities is firmly on track.

“We are focused on a strong finish to 2011 and creating an even more exciting product portfolio for 2012 based on great innovation and a compelling array of licenses.”

The results marked the eighth consecutive quarter of year-on-year sales growth for Mega Brands.

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