The Character Group plc announced its unaudited results for the six months ended 28 February 2023 today. These results show that, despite the extreme challenges in the period leading up to Christmas 2022 in all of its markets, it turned in a small profit before tax for the period.
The financial year to 31 August 2023 is seen as very much one of two halves, with an expected return to more normal sales levels in the second half. The strength of the Group’s product listings will be key to this turnaround. The success of the Goo Jit Zu range has continued and is supported by the Group’s other lines, including the influencer inspired Lanky Box and Aphmau products which are featuring well in the Group’s sales numbers and forecasts. In addition, the scheduled release of the new “Turtles” movie in August 2023 bodes well for the launch this summer of the Teenage Mutant Ninja Turtles line of products.
Paying homage to the efforts of the Group’s personnel, the Board commented that:
“We have not encountered the level of sales slowdown experienced in the first half for many years and it has, but our people have shown, once again, a hunger for delivering the anticipated turnaround for the second half and the restoration of the previous growth pattern and fortunes of the Group.”
Whilst the Board anticipates that conditions in the market will remain challenging, it is confident of the prospects for the second half of and beyond the current financial year end.
