VTech results reveal strong toy revenues

The company enjoys ?record growth? with profits totaling $333 million.
Author:
Publish date:
Social count:
0
41_VTech.jpg

VTech’s full-year financial report shows sales of $1.71 billion and net profits of $333 million.

The Hong Kong technology firm’s electronic learning range also grew in Europe, North America and Asia Pacific.

Revenue from electronic learning in Europe was $274 million, a 13.4 per cent increase, with VTech products being most popular in the UK and France.

In the US, toy revenue was up 22.2 per cent, to $287.1 million. The sales were attributed to the performance of the MobiGo and V.Reader (Storio in Europe), ‘despite competition from two other new platform products in the holiday season.’

Sales of toys in Asia Pacific rose slightly, by 0.6 per cent to $15.9 million.

VTech expects the growth to continue into next year, citing the release of the InnoTab and two new colour-screen laptop products, which will be released later.

Allan Wong, chairman and group CEO of VTech said: “VTech continued to implement its growth strategy in the financial year 2011, which enabled us to achieve record revenue.

"In ELPs, we successfully launched two new platform products in North America and parts of Europe, which has laid an important foundation for future growth. Our superior performance as a supplier also allowed us to gain new customers and additional business from existing customers in all regions."

Related

Featured Jobs

Vivid Job Logo 620 x 349

Digital Marketing Executive - Toys & Games

Vivid is Britain’s biggest toy company and the 20 largest in the world. With offices across the globe, they sell an amazing portfolio of toys and games to over 60 countries. Vivid is best known for its association with blockbuster brands and is very excited about future opportunities around the world.

Liberty

UK Sales Agents

Liberty House Toys have been appointed as the exclusive UK distributor for the BiOBUDDi brand, and we are pleased to introduce this new unique, innovative and exciting range of 100% environmentally-friendly toy building blocks. We are seeking experienced sales agents with existing network in the toy retail market.

Gameplan Job Logo 620 x 349

Head of Product Development & Marketing

Our client is a privately owned French toy and games manufacturer which sells through distributors in forty countries. The company develops and sells innovative electronic interactive toys and games for the educational and gaming markets, and also takes suitable licenses. To progress its successful business development a Head of Product Development & Marketing is to to recruited.

HIT Entertainment Job Logo 620 x 349

Licensing Systems Administrator

The Contract System Coordinator is a newly created role to support the deal term entry process into Mattel’s new Contract Management System for its Licensing business. The role will support the Business Teams at the Deal & Amendment phase of the contracting process and act in conjunction with the System Administration team.