NEWS

Character Options directors report solid progress

Published on: 14th September 2016

The board expects results from the year ending 31st August 2016 to meet market expectations.

CHARACTER-480The group’s portfolio continues to be derived from own-developed, in-house ranges, including those produced under licence, and others sourced through exclusive distribution agreements.

A recent extension to its portfolio is the iconic Stretch Armstrong. This range, produced under a master licence agreement from Hasbro, is marketed and sold on a global basis. Sales in both the UK and international markets have started extremely well and the company is currently developing a wider range of interesting products within the brand.

Another new product range launched recently is Twozies, the girls’ collectibles items. Early results are very promising, and the board is confident that Twozies will become one of its top 10 brands in 2017.

The company is also expanding its international business, generating revenue and profit in US dollars, and by continuing an active programme of monitoring all costs and rationalising operations where possible through increased efficiencies.

The balance sheet continues to strengthen, working capital has been tightly managed, there is no long-term debt and the business continues to generate cash.

Against this backdrop, the directors remain confident that the group will continue to deliver progressive returns which will further enhance shareholder value. The board looks forward to updating shareholders further when preliminary results are announced in early December.

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