VTech reports worldwide growth in electronic learning

Toy sales are up in most territories but the company is cautious for the future.
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In North America, revenues from electronic learning products declined 2.8 per cent to $115.4 million.

Revenues in Europe overtook North America as they reached $124.6 million, representing a healthy 15.2 per cent increase. VTech said the growth was driven by the performance of Storio and MobiGo with France, Germany and Belelux being the best performers.

In its interim financial report, VTech said: "The retail environment for electronic learning products (ELPs) is expected to be challenging and unpredictable in the second half of this financial year. Consumer buying power and sentiment have been subdued. Retailers have been delaying replenishment decisions until the last minute.

"Despite these challenges, VTech is, nonetheless, planning for year-on-year growth across all its major markets for ELPs."

In Asia Pacific revenues were $10.5 million, up 7.1 per cent like-for-like.

In Latin America, the Middle East and Africa sales were $42.7 million and Latin America, which also grew 30.8 per cent to $15.3 million.

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