11th Apr 2025 11:01
(Alliance News) - Character Group PLC on Friday said it has withdrawn its market guidance for financial 2025 due to the uncertainty caused by the imposition of the US trade tariffs.
The Surrey, England-based toys, games and giftware company said the imposition of the US tariffs has "considerably obscured" its ability to forecast US sales and assess the full financial impact on the group.
The US market accounted for around 20% of Character's revenue in its last financial year. The company warned that the impact of the tariffs will be felt in the second half of its current financial year ending August 31.
However, Character's board said it "remains confident that the group will be profitable for the current financial year as a whole".
Character said it expects results for the six months to February 2025 to be in line with the prior year, when it reported a pretax profit of GBP2.1 million before highlighted items. The full interim figures are due in mid-May.
Character shares fell 3.2% to 249.84 pence in London on Friday morning.
By Olivia Mason-Myhill, Alliance News reporter
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