World News

Spin Master’s profits triple

Published on: August 14th, 2015

Spin Master more than tripled its profit in the second quarter, largely thanks to the success of Paw Patrol.

Spinmaster480Profits jumped to $7.6-million (U.S.) in the three months ended 30th June, compared with $2.1-million in the same period a year earlier.

Spin Master made its initial public offering on the Toronto Stock Exchange last month. During the quarter, revenue grew 19.9% to $127.7-million from $106.5-million in the same period last year when it remained a private company.

The company has stated that around 70% of its annual gross sales are represented in the second half of the year.

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