Mega shares spike on Thomas news

Shares in Mega Brands rose 45 per cent on the back of its new Thomas and Friends licensing deal.
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The company's shares, which have fallen about 90 per cent in the past 11 months on disappointing results and the lingering effects of a costly toy recall, were up 45.5 per cent at 56 Canadian cents on the Toronto Stock Exchange.

The multi-year, global agreement, gives it the rights to develop all-new construction toy sets based on the characters of Thomas & Friends books and TV.

Mega Brands Vice-President of Marketing Harold Chizick said "the impact to the business will be millions of dollars".

"It is a global deal and it's the number one pre-school property. The Thomas franchise sells billions of dollars in product around the world."



Mega losses improve

Recall repercussions are still being felt, but Mega Brands reported improved losses in its latest first quarter results.

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