Trading Update

RNS Number : 5435W

Character Group PLC

29 January 2013

 



designers, developers and international distributors of toys, games and giftware

Issued on behalf of The Character Group plc Date: Tuesday 29 January 2013 Immediate Release

The Character Group plc

("Character" or the "Group")

Trading Update

The Character Group plc, which holds its Annual General Meeting today (29 January 2013) at 11.00 am, publishes the following Trading Update ahead of the Meeting:-

"We are pleased to report that the unveiling of our new season's product ranges to our UK and international customer base at the recent International Toy Fairs in London and the Far East has gone very well, and we have been greatly encouraged by the reception and feedback to our total portfolio across the various categories.

Although, as reported in our Preliminary Report on 4 December, trading for the 2012 Christmas period presented many challenges to both retailers and suppliers, Group sales for the first four months of the new financial year are on budget.

Our own in-house developed brands have continued to sell well and have given us a great opportunity this year to grow international sales.  Our own brand developments as well as the distribution of new and exciting product lines continue to help maintain Character as one of the UK's leading toy companies.  We are comfortable that forecasted sales, both internationally and domestically, will underpin the Group achieving current market expectations for the year ending 31 August 2013.

Looking ahead; as already indicated, the results for the period to February 2013 will be disappointing, however, we expect to benefit from a major lift in sales in the second half of the current financial year compared to the previous corresponding period and this should provide a solid platform for further growth in the 2014 financial year.

We look forward to keeping shareholders updated throughout the year."

Enquiries:
The Character Group plc	Charles Stanley Securities (Nominated Adviser)
Richard King,  Executive Chairman	Russell Cook
Kiran Shah, Group Finance Director & Joint MD	Carl Holmes
Tel: [phone]	Tel: [phone]
Mobile: [phone] (KS)
Mobile: [phone] (RK)	TooleyStreet Communications (IR & media relations)
www.thecharacter.com Ticker: AIM: CCT	Fiona Tooley Tel: [phone]

 

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