21st Jan 2022 10:23
(Alliance News) - Character Group PLC on Friday said it maintained a solid performance over the Christmas trading period, allowing the company to remain confident that it will achieve market expectations for its current financial year.
In the four months ended December 31, the Surrey, England-based toy, games and gifts manufacturer said turnover increased 23% year-on-year thanks to sales growth in the US and Scandinavia, while revenue from the UK and the rest of the world remained flat.
In addition, Character noted continued logistical challenges, which have affected the export of products from the Far East to the UK and other markets, and increased costs due to escalating freight rates.
Looking ahead, Character said that assuming no further worsening of trading conditions, the group expects to achieve current market expectations for the year ending August 31.
Current market consensus is for underlying pretax profit of GBP11.3 million, up from GBP11.1 million the year before.
Shares in Character Group were down 2.7% at 606.00 pence on Friday in London.
By Dayo Laniyan; [email protected]
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