NEWS

Character Group expresses confidence as it enters Q4 2020

Published on: 29th September 2020

The company has issued a trading update, says it was able to maintain trading at “satisfactory levels” during the six months to the end of August. 

Character Group has issued a second half trading update, stating that the outcome for the six months to 31st August had been ‘considerably affected’ by the UK lockdown.

However, by working in close collaboration with its customers and distributors, the company says it was able to maintain trading at what it calls satisfactory levels, resulting in a profit for the second half expected that to be at least equivalent to that of the first half.

Product demand has remained healthy throughout the year, the statement says, leading Character to announce confidence in its progress as it heads into Q4 and 2021.

“The agile working practices that the group has developed over recent years have served it very well during the lockdowns and periods of changing government restrictions,” the board said in its statement. “We have also noted this week the updated guidance from the prime minister and we shall take appropriate steps as and when required.”

The statement adds: “As always at this time of year, development of the group’s ranges and products for the Christmas season 2021 is well advanced, and early feedback from customers to our previews and presentations have been extremely gratifying. The board believes that, with the current strength of Character’s product catalogue matched by the commitment and motivation to succeed of our people at all levels, the group’s prospects for weathering the challenging environment remain good.”

Character will release preliminary yearly results for the year ended 31st August in early December.

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