NEWS

Character publishes half year results to 28th February 2023

Published on: 11th May 2023

Ranges including Goo Jit Zu, Lanky Box and Aphmau have performed well for Character, which expects a strong second half of the year.

The Character Group plc has announced its unaudited results for the six months ended 28th February 2023. These results show that, despite the extreme challenges in the period leading up to Christmas 2022 in all of its markets, the company turned in a small profit before tax for the period.

In a statement, the company noted that the financial year to 31st August 2023 could be seen as ‘very much one of two halves’, with a return to more normal sales levels expected in the second half. The strength of the group’s product listings will be key to this turnaround.

The success of the Goo Jit Zu range has continued and is supported by the group’s other lines, including the influencer inspired Lanky Box and Aphmau products which are featuring well in the group’s sales numbers and forecasts. In addition, the scheduled release of the new Teenage Mutant Ninja Turtles movie in August 2023 bodes well for the summer launch of the Teenage Mutant Ninja Turtles line of products.

Paying homage to the efforts of the group’s personnel, the board commented: “We have not encountered the level of sales slowdown experienced in the first half for many years, but our people have shown, once again, a hunger for delivering the anticipated turnaround for the second half and the restoration of the previous growth pattern and fortunes of the group.”

Whilst the board anticipates that conditions in the market will remain challenging, it is confident of the prospects for the second half of 2023 and beyond the current financial year end.

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