WORLD NEWS

VTech releases 2018 financial results

Published on: 21st May 2018

The group has posted record revenue alongside strong growth in Asia Pacific. 

VTech Holdings has announced its results for the year ended 31st March 2018, reporting record revenue and higher profit.

Group revenue for the year increased by 2.4% to $2,130.1m, driven by higher sales in North America and Asia Pacific. Growth of electronic learning products (ELPs) was negatively impacted by Toys R Us’ bankruptcy.

Standalone and platform products both achieved sales increases in the financial year 2018. In standalone products, further progress was made in growing LeapFrog’s standalone products business, as more new standalone toys were launched under the brand. Sales of VTech standalone products also rose, supported by higher sales of infant and pre-school products, as well as Kidizoom Camera. This offset the sales decline of the Go! Go! Smart/Toot-Toot family of products.

Growth in platform products was primarily driven by VTech platform products, with the Kidizoom Smartwatch range, KidiBuzz/KidiCom Max and Touch and Learn Activity Desk Deluxe all recording sales increases. LeapFrog reading systems, including LeapStart/MagiBook and LeapReader, also registered sales increases. The percentage shares from standalone and platform products within total ELPs revenue remained unchanged during the financial year 2018, at 77% and 23% respectively.

Allan Wong, chairman and group CEO of VTech Holdings, commented: “The financial year 2018 saw revenue at VTech reach another record high, mainly driven by strong growth in the Asia Pacific region. Profit was also higher, owing to increased revenue and the absence of one-off costs associated with the integration of LeapFrog. The Group remains well-positioned for further growth.”

RECENT ARTICLES

Smyths Toys acquires PicWic Toys

Full steam ahead for Toynamics’ Hape railway campaign

Golden Bear reports exceptional sales for Curlimals range

Exclusive: Talking Shop

Exclusive: Focus on Tech Toys & Gadgets

Trends UK celebrates 20th Anniversary at British Grand Prix

Tonies launches George adventures for Peppa Pig fans

Sainsbury’s reports substantial drop in Argos sales

Bluey to launch second series on CBeebies and BBC iPlayer

Exclusive: Schleich unveils new global brand strategy