REG - Character Group PLC - Trading update ahead of the AGM

CharacterAnnouncement

20/01/2023 07:00

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RNS Number : 3332N  Character Group PLC  20 January 2023

 

The information contained within this announcement is deemed by the Company to
constitute inside information stipulated under the Market Abuse Regulation
(EU) No. 596/2014 4 as it forms part of UK domestic law pursuant to the Market
Abuse (Amendment) (EU Exit) regulations (SI 2019/310) ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR. Upon the publication of this announcement via the Regulatory Information
Service, this inside information is now considered to be in the public domain.

 

 

 

THE CHARACTER GROUP PLC

("Character", the "Company" or the "Group")

Designers, developers and international distributor of toys, games, and
giftware

 

Trading Update

 

 

London: Friday, 20 January 2023: The Character Group (AIM: CCT) will be
holding its Annual General Meeting today at 11.00am. Ahead of this, the Group
provides the following update:

 

As we highlighted in our Annual results announcement on 22 December 2022,
trading conditions across all the Group's markets have remained challenging,
with revenue for the four months to 31 December 2022 down approximately 42%
against the comparative period in 2021, with USA sales showing a marked drop.
 

 

The Group has a strong product portfolio of both in-house developed and
distributed products and our customers have shown great enthusiasm for our
offering at previews.  With innovative and exciting new brand concepts,
additions and extensions being unveiled at the London Toy Fair next week (24 -
26 January), we are very encouraged and expect similar reactions from the
market to our enlarged portfolio over the coming months.

 

Despite the tough and challenging start to the current financial year, the
Board remains optimistic that the anticipated rebound will come through
strongly in the second half.  Accordingly, the Company shall be profitable
for the financial year as a whole, however, sales and profit before tax
(before highlighted items) are expected to be marginally below current market
expectations.

 

We will update shareholders further on the market and our progress at the time
of the interim results, which are scheduled to be released in May 2023.

 

 

 

The Character Group plc

FTSE sector:  leisure goods:

FTSE AIM All-share: symbol: CCT

Market cap: £80m

Email:  info@charactergroup.plc.uk (mailto:info@charactergroup.plc.uk)

Group website: www.thecharacter.com (http://www.thecharacter.com)

Product ranges can also be viewed at www.character-online.co.uk
(http://www.character-online.co.uk)

CHARACTER GROUP PLC CCT Stock | London Stock Exchange
(https://www.londonstockexchange.com/stock/CCT/character-group-plc/company-page)

 

 

 Enquiries to:

 The Character Group plc

 Jon Diver, Joint Managing Director

 Kiran Shah, Joint Managing Director & Group Finance Director

 Office:  +44 (0) 208 329 3377

 Mobile: +44 (0) 7831 802219 (JD)

 Mobile: +44 (0) 7956 278522 (KS)

 Panmure Gordon (Nominated Adviser and Joint Broker)

 Atholl Tweedie, Investment Banking

 Rupert Dearden, Corporate Broking

 Tel:  +44 (0) 20 7886 2500

 Allenby Capital Limited (Joint Broker)

 Nick Athanas, Corporate Finance

 Amrit Nahal, Sales & Corporate Broking

 Tel:  +44 (0) 20 3328 5656

 TooleyStreet Communications Limited (Investor and media relations)

 Fiona Tooley

 Tel:  +44 (0) 7785 703523

 Email: fiona@tooleystreet.com (mailto:fiona@tooleystreet.com)

 

 

 

 

 

 

 

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