Spin Master has announced its financial results for the second quarter ended 30th June, 2019.
“Our second quarter results demonstrated the strength, diversity and depth of our innovative product portfolio with positive momentum for many of our key brands, including Bakugan, Paw Patrol, DreamWorks Dragons and Monster Jam,” said Ronnen Harary, Spin Master’s chairman and co-CEO. “Looking forward, we remain confident in our proven track record of innovation and in our global platform. We continue to demonstrate our ability to produce compelling entertainment content, magical toy experiences and to be a great partner for licensors.”
Revenue of $321m increased 3% from $311.5 m, while Gross Product Sales increased 6.9% with an unfavourable foreign exchange impact of 1.1%. Contributing to the increase was the shift in the Easter holiday, which occurred in the second quarter of 2019 compared to the first quarter in 2018.
Gross Product Sales increased 42.8% and 1.2% in Europe and North America respectively and declined 1.7% in Rest of World. International Gross Product Sales on a combined basis were 35.6% of total Gross Product Sales, increasing from 32.0%.
Sales in the Boys Action and High Tech Construction category increased by 202.3% to $64m, primarily driven by sales of DreamWorks Dragons, Bakugan and Monster Jam products.
Pre-School and Girls sales increased by 10.3% to $96.4 m, driven primarily by higher sales of Paw Patrol and Twisty Petz, together with sales of new brand Candylocks.