The Character Group reports a 26% increase in turnover as international sales gain further traction.
The Character Group plc has today (22nd December) announced results for the year ended 31st August 2022. The accounts show that group turnover in the year increased by +26% to £176.4m (2021: £140m) and delivered a profit before tax of £11.4m.
The strength of the brands and products portfolio has enabled Character to significantly increase sales at a time when margins have come under intense pressure. Notable performers during the year were Goo Jit Zu, which is being distributed in over 40 territories and continues to maintain a strong presence; Chill Factor (acquired in 2021), which has been reinvigorated; Weebles, with its popular licensed characters such as Bluey, CoComelon and My Little Pony; Cra-Z-Art Shimmer ‘n Sparkle and Peppa Pig.
Jerry Healy, group marketing director, commented: “Trading conditions have been undeniably tough in the latter part of 2022 but we have ended the year in a strong position. We now move into 2023 with exciting new in-house brands and distributor product lines which we look forward to previewing to the trade during the London Toy Fair in January.”
- New products under Character’s multi-territory Stretch Armstrong umbrella, including Star Wars and Transformers
- The new Teenage Mutant Ninja Turtles collection from Playmates International, to coincide with a Turtles movie to be released in 2023
- The distribution of toy ranges from Bonkers Toys based on the Aphmau and Lanky Box brands
Jerry added: “With the strength of our current offering and the recent recovery in margins, we look forward to working with our customers and distributors as we move into 2023.”