REG - Character Group PLC - Trading Update

CharacterAnnouncement

17/01/2025 07:00

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RNS Number : 6808T  Character Group PLC (The)  17 January 2025

 

 

 

THE CHARACTER GROUP PLC

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

 

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

 

 

 

Trading Update

 

 

London: Friday, 17 January 2025: The Character Group (AIM: CCT) will be
holding its Annual General Meeting today at 11.00am. Ahead of this, the Group
provides the following trading update:

 

As reported in the announcement of our annual results on 18 December 2024,
trading conditions have continued to be challenging. Whilst sales in the four
months leading up to Christmas 2024 on a like for like basis have been very
similar to that of the prior year level, the Board continues to expect sales
and profit before tax and highlighted items in the current financial year
ending 31 August 2025 to be at similar levels to those reported in the
previous year.

 

We are excited to be kicking off 2025 with a full showcasing of our portfolio
of products at the London Toy Fair at Olympia next week, quickly followed by
the Nurenberg Toy Fair in the subsequent week. These two international fairs
are the biggest events in our annual marketing calendar for Europe and present
us with the opportunity to market and exhibit our existing catalogue of
products to customers and introduce, ahead of market launch, the scheduled
developments, and additions to our portfolio for the year ahead. The customer
previews of our 2025 ranges have been very successful to date, and we are
confident that the ranges will perform well for the Group in the coming year.

 

Coupled with its strong stable of products for 2025, Character continues to
benefit from a robust balance sheet, with a healthy net cash position and
substantial unutilised working capital facilities in place. The business
continues to trade satisfactorily,  and the Board expects profitability
(before highlighted items) for the current financial year ending 31 August
2025 to be in line with current market expectations. The Company remains
committed to share buybacks and intends to continue with its current buyback
programme, subject to the renewal of its buyback authority at the AGM.

 

As previously announced, two of our long serving Directors will be retiring
and stepping down from the Board at the AGM: Mike Hyde, who has been with the
Group for 20 years, initially as the Managing Director of our operations in
the Far East and then, from 2011, as a main Board Director; and Clive Crouch,
who joined the Board in 2016 as an Independent Non-Executive Director. We take
this opportunity to once again thank both Mike and Clive for their varied and
valued counsel and service to the Group and on behalf of all shareholders we
wish them both well in the future. The Company has begun a search to appoint a
non-executive director, and shareholders will be updated on this appointment
in due course.

 

The Company is scheduled to publish its Half-year report for the period ending
28 February 2025 in May 2025.

 

 

The Character Group plc

FTSE sector: leisure goods:

FTSE AIM All-share: symbol: CCT

Market cap: £50m

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 Liberum (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/Tony Quirke, 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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