Character Group, which stocks brands such as Peppa Pig, Pokemon and Goo Jit Zu, has reported that turnover for the year ending August 31, 2024, rose from £122.6m to £123.4m and pre-tax profits were up to £5.7m from £4.7m the previous year.
The Group said that the positive performance was achieved in “a harsh trading environment and against a constant flow of negative headlines and data concerning the cost of living and a lack of consumer confidence combining to produce a reduction in sales at retail. The ongoing conflicts in key regions in the Middle East continued to severely disrupt the global supply chain and shipping from the Far East. Viewed against this backdrop, the Group’s results are creditable and a testament to the strength of the Group’s product portfolio and the energy, talent and resourcefulness of our teams around the world.”
Looking ahead to 2025, the Group said: “The challenging and unpredictable conditions that persisted throughout much of the last financial year have continued into the current fiscal year. With buffeting from political and macroeconomic developments, consumer confidence remains low, and this has adversely affected footfall in the high street and clickthrough from online marketplaces in the lead-up to the key Christmas 2024 trading period.”
“Despite this, we are encouraged by the resilience of our market share in our domestic markets and the prospects growth in our international markets expected in Q4 of the current financial year. Accordingly, the Board expect sales and profit before tax and highlighted items for the full year ending 31 August 2025 to remain at similar levels to those reported in the year under review.”
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