Peppa Pig and Teletubbies among successes as toy company reports annual results.
Toy company Character Options has reported its preliminary results for the year ending August 31, 2018 – with licensed continuing to be key.
The 12 months ending August 31, 2018 saw Character record revenue of £106.2 million (2017: £115.3m) and operating profit of £11.7 million (2017: £13.6m). Pre-tax profit stood at £11.6 million (2017: £13.4m).
The company said that key product ranges – including Peppa Pig and Teletubbies remain in demand, and that additions to those ranges have been “well received by our customers and the consumer” with sales continuing to grow.
In addition, since completion of the acquisition of a 55% shareholding in PROXY in October, PROXY has secured the exclusive distribution rights for the Nordic region of the Funko range including its Fortnite figures.
A statement from the board said that the group “finished the financial year in a strong position, comfortably achieving market expectations”.
The statement continued: “The new financial year has started well and in line with management expectations; we are confident in the prospects for the current autumn/winter trading period, which includes the all-important Christmas season. In addition, we are delighted to be working closely with the team at PROXY.”
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