Picture of Character logo

CCT Character News Story

0.000.00%
gb flag iconLast trade - 00:00
Consumer CyclicalsBalancedMicro CapSuper Stock

REG - Character Group PLC - Half-year Financial Report - six months to 28.2.25

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250516:nRSP9221Ia&default-theme=true

RNS Number : 9221I  Character Group PLC (The)  16 May 2025

 

 

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 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018. Upon the publication of this
announcement via the Regulatory Information Service, this inside information
is now considered to be in the public domain.

 

 

LONDON, FRIDAY, 16 MAY 2025

 

The Character Group plc

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

 

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

 

HALF-YEAR FINANCIAL REPORT

for the six months ended 28 February 2025

 

 

 KEY PERFORMANCE INDICATORS                                     Six months    Six months    12 months

 CONTINUING OPERATIONS                                          ended         ended         ended

                                                                28 February   29 February   31 August

                                                                2025          2024          2024

                                                                (unaudited)   (unaudited)   (audited)
 Revenue                                                        £53.0m        £57.6m        £123.4m

 Pre-tax profit before highlighted items*                       £2.1m         £2.1m         £6.6m
 Underlying basic earnings per share before highlighted items*  8.59p         8.72p         29.76p
 Diluted earnings per share before highlighted items*           8.59p         8.71p         29.72p

 Profit before tax                                              £3.2m         £2.2m         £5.7m
 Basic earnings per share                                       12.84p        9.31p         25.96p
 Diluted earnings per share                                     12.84p        9.30p         25.92p

 Dividend per share (declared)                                  3.0p          8.0p          19.0p
 EBITDA                                                         £3.7m         £3.7m         £10.1m
 Cash and cash equivalents                                      £16.0m        £12.9m        £13.2m
 Net assets                                                     £38.7m        £38.7m        £38.6m

 

 *Excludes
 Mark to market profit/(loss) adjustments on FX derivative positions  £1.1m   £0.2m   £(1.0m)

 

 

 

 FTSE sector: leisure: FTSE AIM All-share: symbol: CCT: Market cap: £46.5m

 Copies of this statement can be viewed at 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) .

 ENQUIRIES:
 The Character Group plc

 Jon Diver, Joint Managing Director

 Kiran Shah, Joint Managing Director

 Hamun Shah, Group Finance Director
 Office:     +44 (0) 208 329 3377

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

 Panmure Liberum Limited

 (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)

 

 

 

The Character Group plc

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

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

 

 

HALF-YEAR FINANCIAL REPORT

for the six months ended 28 February 2025

 

 

 

The Group's performance in maintaining profits and cash flow in the first half
year period reflects the strength, depth and quality of our current portfolio
of products.

 

Although Group revenue in the first half of the current financial year was c.
8% lower than 2024 at £53.0m (HY 2024 £57.6m), gross margins improved by 2.1
basis points to 29.3%, delivering pre-tax profits (before highlighted items)
in line with those reported at the halfway point in 2024. The Group has
continued to generate cashflow in the period and, as at 28 February 2025, had
net cash balances of £16m (2024: £12.9m) and no long-term debt.

 

Overall, despite the harsh trading conditions experienced in the lead up to
and through the all-important Christmas period, the Group's performance is
testimony to the management's ability to read the market and produce and
distribute products that capture the imagination of, and enable quality play
by, the children that ultimately determine the success or failure of toy
products.

 

GROUP TRADING

Revenue in the period at £53.0m was down against the comparable period last
year (HY 2024: £57.6m; FY 2024: £123.4m).

 

Despite the reduction in HY1 sales, the Group is reporting a profit before tax
and highlighted items of £2.1m (HY 2024: £2.1m; FY 2024: £6.6m), which is
comparable to its performance in the first half 2024.

 

Earnings before interest, tax, depreciation and amortisation (EBITDA) were
£3.7m (HY 2024 £3.7m; FY 2024: £10.1m).

 

Gross profit margin in the first half improved to 29.3%, compared to 27.2% in
the same 2024 period and 26.5% for the 2024 financial year.

 

Underlying basic earnings per share before highlighted items were 8.59p (HY
2024: 8.72p; FY 2024: 29.76p). Diluted earnings per share, on the same basis,
were 8.59p (HY 2023: 8.71p; FY 2024: 29.72p).

 

A significant proportion of the Group's purchases are made in US dollars. The
business is therefore exposed to foreign currency fluctuations and manages the
associated risk through the purchase of forward exchange contracts and
derivative financial instruments. Under International Financial Reporting
Standards (IFRS), at the end of each reporting period the Group is required to
make an adjustment in its financial statements to incorporate a 'mark to
market' valuation of such financial instruments. The 'mark to market'
adjustment for the financial period under review results in a profit of
£1.1m. This compares to a profit of £0.2m shown in the corresponding period
in 2024 and a loss of £0.97m reported in the year to 31 August 2024. These
'mark to market' adjustments are non-cash items, calculated by reference to
unpredictable and sometimes volatile currency spot rates at the respective
balance sheet dates. To present the results on a "normal" basis, these "mark
to market" adjustments on FX derivative positions are excluded, although shown
separately as "highlighted items" to demonstrate the "underlying" position.

 

FINANCIAL POSITION, WORKING CAPITAL & CASH FLOW

The Group's net assets at 28 February 2025 were £38.7m (HY 2024: £38.7m; FY
2024: £38.6m). The Group generated cash from operations of £6.7m (HY 2024:
£10.1m ; FY 2024: £14.9m ).

 

Inventories at the same date stood at £12.7m (HY 2024: £11.7m; FY 2024;
£20.1m).

 

The Group has no long-term debt. At the end of the first half, net interest
income was £0.1m (HY 2024: negligible; FY 2024: £0.1m). After making
dividend payments of £2.05m and financing share buybacks of £0.86m, the
Group had cash and cash equivalents of £16.0m at 28 February 2025 (HY 2024:
£12.9m; FY 2024: £13.2m). In addition, the Group had unutilised headroom of
over £50m under its banking and other finance facilities.

 

DIVIDEND

Taking account of the current uncertainty, the Board is declaring a reduced
dividend at this interim stage of 3.0p per share (HY 2024: 8.0p; final
dividend 2024: 11.0p). The dividend is covered approximately 2.86 times by
underlying earnings per share.

The interim dividend will be paid on 25 July 2025 to shareholders on the
register as at the close of business on 11 July 2025. The shares will be
marked ex-dividend on 24 July 2025.

SHARE BUYBACK PROGRAMME

Shareholders passed a resolution at the 2025 Annual General Meeting
authorising the Company to effect share buybacks (including by way of tender
offers) of up to 2,815,000 issued ordinary shares of 5p each in the Company
("Ordinary Shares").  The Company announced a £2.0 million share buyback
programme on 29 October 2024.  The Company has successfully bought back a
total of 530,899 Ordinary Shares at a total cost (including dealing costs) of
£1,376,529, leaving an unutilised capacity under the buyback programme of
£623,471. The programme will end on 30 May 2025 or sooner if the total buying
back under the scheme reaches £2.0 million (inclusive of the associated
dealing costs). If the target of £2.0 million has not been reached by 30 May
2025, it is the Board's intention to seek to agree an extension to the
programme with Panmure Liberum, the Company's broker who is conducting the
programme on its behalf.  If agreed, details of any such extension will be
announced on or about 30 May 2025.

 

TOTAL VOTING RIGHTS (TVR)

As at today's date, the Company's issued share capital consists of 20,226,558
Ordinary Shares. The Company holds 1,983,059 Ordinary Shares in treasury which
do not carry voting rights and, accordingly, the total number of voting rights
in Character is 18,243,499. The figure of 18,243,499 may be used by
shareholders as the denominator for the calculations by which they will
determine if they are required to notify their interest, or change to their
interest, in the Company under the FCA's Disclosure Guidance and Transparency
Rules.

 

OUR PEOPLE

Once again on behalf of all stakeholders, the Board wants to thank everyone in
the business for their unwavering focus, dedication and commitment all of
which plays an important part in delivering the Group's goals despite
turbulent trading conditions.

 

As announced on 28 January 2025, Hamun Shah was promoted to the position of
Group Finance Director in succession to Kiran Shah, who continues in the role
as Joint Managing Director.  The Board continues in its efforts to recruit a
further independent, non-executive director, following the retirement of Clive
Crouch at the 2025 AGM, and will update shareholders on the results of its
search in due course.

 

OUTLOOK

In the year ended 31 August 2024, sales to the USA amounted to c. 20% of Group
revenue, with substantially all of the Group's products sold in the USA being
manufactured in China. The significant increase in tariffs on imports to the
USA from China immediately put the contribution derived from these sales in
the second half of the year at risk as shipments were put on hold.  As
announced in the Company's trading update on 11 April 2025, the Company has
withdrawn its market guidance for the year ending 31 August 2025 given the
uncertain impact on the Group of a volatile and evolving trade policy
landscape. The 90-day reduction in tariffs between the USA and China announced
on 11 May 2025 gives hope for a negotiated resolution, although this remains
uncertain at this time. The uncertainty flowing from the imposition of these
tariffs has been felt in other parts of the world as customers have become
increasingly cautious and are not committing to orders to our expectations.
This is impacting sales in all our key territories.  Despite this, the Board
remains confident that the Group will be profitable in the current financial
year as a whole, although it is too early to forecast short to medium term
trading at this juncture.

 

The Group continues to have a strong balance sheet with healthy cash balances
and, with the strength of its portfolio of products, the Directors are
confident that the business can continue to ride out this current storm and
emerge in good shape.

 

16 May 2025

 

 

 

 

 The Character Group plc

 Consolidated Income Statement

 six months ended 28 February 2025

 

                                                 six months ended                       six months ended     six months ended     six months ended                        six months ended    six months ended       12 months ended                    12 months ended      12 months ended

                                                  28 February 2025                       28 February 2025    28 February 2025      29 February 2024                       29 February 2024    29 February 2024        31 August 2024                    31 August 2024       31 August 2024

                                                 Result before   *highlighted items     *highlighted items   Result               Result before   *highlighted items     *highlighted items   Result                 Result before *highlighted items   *highlighted items   Statutory

                                                 (unaudited)                                                                      (unaudited)                                                                        (audited)                                               Result

                                                 £'000                                  (unaudited)                               £'000                                  (unaudited)                                 £'000                              (audited)

                                                                                        £'000                (unaudited)                                                 £'000                (unaudited)                                               £'000                (audited)

                                                                                                             £'000                                                                            £'000                                                                          £'000
 Revenue                                         53,019                                 -                    53,019               57,615                                 -                    57,615                 123,419                            -                    123,419
 Cost of sales                                   (37,508)                               -                    (37,508)             (41,926)                               -                    (41,926)               (90,668)                           -                    (90,668)
 Gross profit                                    15,511                                 -                    15,511               15,689                                 -                    15,689                 32,751                             -                    32,751
 Other income                                    154                                    -                    154                  121                                    -                    121                    547                                -                    547
 Selling and distribution expenses               (4,128)                                -                    (4,128)              (3,821)                                -                    (3,821)                (6,417)                            -                    (6,417)
 Administrative expenses                         (9,535)                                -                    (9,535)              (9,913)                                -                    (9,913)                (20,335)                           -                    (20,335)
 Operating profit                                2,002                                  -                    2,002                2,076                                  -                    2,076                  6,546                              -                    6,546
 Finance income                                  151                                    -                    151                  58                                     -                    58                     184                                -                    184
 Finance costs                                   (43)                                   -                    (43)                 (60)                                   -                    (60)                   (81)                               -                    (81)
 Changes in fair value of financial instruments  -                                      1,060                1,060                -                                      154                  154                    -                                  (966)                (966)
 Profit/(loss) before tax                        2,110                                  1,060                3,170                2,074                                  154                  2,228                  6,649                              (966)                5,683
 Income tax                                      (506)                                  (265)                (771)                (387)                                  (39)                 (426)                  (973)                              242                  (731)
 Profit/(loss) for the period                    1,604                                  795                  2,399                1,687                                  115                  1,802                  5,676                              (724)                4,952

 

 *highlighted items comprise material items that are disclosed separately by
virtue of their size or incidence and because they are considered relevant to
an understanding of the overall performance of the Company.

 

 

The Character Group plc

Consolidated Income Statement

six months ended 28 February 2025

 

 

 

                                                                  Notes   six months ended    six months ended    12 months ended

                                                                         28 February 2025     29 February 2024    31 August 2024

                                                                         (unaudited)         (unaudited)          (audited)

                                                                         £'000               £'000                £'000
 Attributable to:
 Owners of the parent
 Profit for the period                                                   2,399               1,802                4,952
 Earnings per share before highlighted items (pence)              4
 Basic earnings per share                                                8.59p               8.72p                29.76p
 Diluted earnings per share                                              8.59p               8.71p                29.72p
 Earnings per share after highlighted items (pence)               4
 Basic earnings per share                                                12.84p              9.31p                25.96p
 Diluted Earnings per share                                              12.84p              9.30p                25.92p

 Dividend per share (pence)                                       3      11.00p              11.00p               19.0p

 EBITDA                                                                  3,680               3,748                10,063

 (earnings before interest, tax, depreciation and amortisation)

 

 

 

The Character Group plc

Consolidated Statement of Comprehensive Income

six months ended 28 February 2025

 

 

 

                                                                                                 six months ended    six months ended    12 months ended

                                                                                                 28 February 2025    29 February 2024     31 August 2024

                                                                                                 (unaudited)        (unaudited)          (audited)

                                                                                                 £'000              £'000                £'000
 Profit for the period after tax                                                                 2,399              1,802                4,952
 Items that may be reclassified subsequently to profit and loss                                  313                323                  (151)

 Net exchange differences on translation of foreign operations
 Total comprehensive Income for the period                                                       2,712              2,125                4,801

 Total comprehensive income for the period attributable to:
 Equity holders of the parent                                                                    2,712              2,125                4,801

 

 

 The Character Group plc

 Consolidated Balance Sheet

 at 28 February 2025

 

 

                                                                28 February 2025  29 February   31 August

                                                                (unaudited)       2024           2024

                                                                £'000             (unaudited)   (audited)

                                                                                  £'000         £'000
 Non-current assets
 Intangible assets                                              1,334             1,947         1,618
 Investment property                                            1,290             1,355         1,323
 Property, plant and equipment                                  10,245            9,943         10,065
 Right of use assets                                            638               440           836
 Deferred tax assets                                            384               405           993
                                                                13,891            14,090        14,835
 Current assets
 Inventories                                                    12,676            11,735        20,103
 Trade and other receivables                                    8,656             13,445        23,991
 Current income tax receivable                                  564               1,395         591
 Derivative financial instruments                               355               157           16
 Cash and cash equivalents                                      16,305            13,424        14,599
                                                                38,556            40,156        59,300
 Current liabilities
 Short term borrowings                                          (349)             (482)         (1,446)
 Trade and other payables                                       (11,445)          (13,820)      (31,197)
 Lease liabilities                                              (620)             (351)         (438)
 Income tax payable                                             (302)             -             (192)
 Derivative financial instruments                               (702)             (443)         (1,424)
                                                                (13,418)          (15,096)      (34,697)
 Net current assets                                             25,138            25,060        24,603
 Non - current liabilities
 Deferred tax                                                   (302)             (345)         (377)
 Lease liabilities                                              (45)              (82)          (431)
                                                                (347)             (427)         (808)
 Net assets                                                     38,682            38,723        38,630
 Equity
 Called up share capital                                        1,022             1,061         1,038
 Shares held in treasury                                        (1,664)           (1,762)       (1,756)
 Capital redemption reserve                                     1,935             1,896         1,919
 Share based payment reserve                                    4,247             4,216         4,231
 Share premium account                                          17,902            17,751        17,761
 Merger reserve                                                 651               651           651
 Translation reserve                                            1,112             1,046         698
 Profit and loss account                                        13,477            13,864        14,088
 Total equity attributable to equity holders of the parent      38,682            38,723        38,630

 

 

 The Character Group plc

 Consolidated Statement of Cash Flows

 six months ended 28 February 2025

 

 

                                                                       six months ended  six months      12 months

                                                                       28 February       ended           ended

                                                                       2025               29 February     31 August

                                                                       (unaudited)       2024            2024

                                                                       £'000             (unaudited)     (audited)

                                                                                         £'000           £'000
 Cash flow from operating activities
 Profit before taxation for the period                                 3,170             2,228           5,683
 Adjustments for:
 Depreciation of property, plant and equipment                         417               402             833
 Depreciation of investment property                                   33                33              65
 Depreciation of right of use assets                                   264               261             536
 Amortisation of intangible assets                                     963               982             2,096
 Loss/(profit) on disposal of property, plant and equipment            1                 (3)             (13)
 (Profit) on derecognition of right of use assets                      -                 (3)             -
 Interest (income)/expense                                             (108)             2               (103)
 Financial instruments fair value adjustments                          (1,060)           (154)           966
 Share based payments                                                  16                55              70
 Decrease/(increase) in inventories                                    7,427             6,220           (2,148)
 Decrease in trade and other receivables                               15,335            13,251          2,705
 (Decrease)/increase in trade and other creditors                      (19,752)          (13,125)        4,252
 Cash generated from operations                                        6,706             10,149          14,942
 Interest received/(paid)                                              108               (2)             103
 Income tax paid                                                       (67)              (3,118)         (3,028)
 Net cash inflow from operating activities                             6,747             7,029           12,017
 Cash flows from investing activities
 Payments for intangible assets                                        (679)             (592)           (1,376)
 Payments for property, plant and equipment                            (593)             (336)           (858)
 Proceeds from disposal of property, plant and equipment               -                 3               14
 Net cash outflow from investing activities                            (1,272)           (925)           (2,220)
 Cash flows from financing activities
 Payment of leasing liabilities                                        (243)             (268)           (555)
 Proceeds from issue of share capital                                  233               -               16
 Purchase of own shares for cancellation                               (857)             (692)           (2,000)
 Dividends paid                                                        (2,052)           (2,130)         (3,623)
 Net cash used in financing activities                                 (2,919)           (3,090)         (6,162)
 Net increase in cash and cash equivalents                             2,556             3,014           3,635
 Cash, cash equivalents and borrowings at the beginning of the period  13,153            9,610           9,610
 Effects of exchange rate movements                                    247               318             (92)
 Cash, cash equivalents and borrowings at the end of the period        15,956            12,942          13,153

 

 

 Cash, cash equivalents and borrowings consist of:
 Cash, cash equivalents                                          16,305  13,424  14,599
 Short term borrowings                                           (349)   (482)   (1,446)
 Cash, cash equivalents and borrowings at the end of the period  15,956  12,942  13,153

 

 

The Character Group plc

Consolidated Statement of Changes in Equity

six months ended 28 February 2025

 

 

 

                                                            Called up share capital  Shares held in treasury  Capital redemption reserve  Share premium account                   Share based payment                        Profit

                                                            £'000                    £'000                     £'000                      £'000                  Merger reserve   £'000                Translation reserve   and loss

                                                                                                                                                                 £'000                                 £'000                 account    Total

                                                                                                                                                                                                                             £'000      £'000
 At 31 August 2023                                          1,074                    (1,762)                  1,883                       17,751                 651              4,161                971                   14,636     39,365

 (audited)
 Profit for the period                                      -                        -                        -                           -                      -                -                    -                     1,802      1,802
 Exchange differences on translation of foreign operations  -                        -                        -                           -                      -                -                    75                    248        323
 Total comprehensive income for the period                  -                        -                        -                           -                      -                -                    75                    2,050      2,125
 Transactions with owners
 Share based payment                                        -                        -                        -                           -                      -                55                   -                     -          55
 Dividend paid                                              -                        -                        -                           -                      -                -                    -                     (2,130)    (2,130)
 Shares cancelled                                           (13)                     -                        13                          -                      -                -                    -                     (692)      (692)
 Six months ended                                           1,061                    (1,762)                  1,896                       17,751                 651              4,216                1,046                 13,864     38,723

 29 February 2024

 

 Balance as at                                                  1,074  (1,762)  1,883  17,751  651  4,161  971    14,636   39,365

 1 September 2023

 (audited)
 Profit for the year after tax                                  -      -        -      -       -    -      -      4,952    4,952
 Net exchange differences on translation of foreign operations  -      -        -      -       -    -      (273)  122      (151)
 Total comprehensive income/(expense) for the year              -      -        -      -       -    -      (273)  5,074    4,801
 Transactions with owners
 Share based payment                                            -      -        -      -       -    70     -      -        70
 Deferred tax relating to share options                         -      -        -      -       -    -      -      1        1
 Dividends                                                      -      -        -      -       -    -      -      (3,623)  (3,623)
 Shares issued                                                  -      6        -      10      -    -      -      -        16
 Shares cancelled                                               (36)   -        36     -       -    -      -      (2,000)  (2,000)
 At 31 August 2024                                              1,038  (1,756)  1,919  17,761  651  4,231  698    14,088   38,630

 (audited)
 Profit for the period                                          -      -        -      -       -    -      -      2,399    2,399
 Exchange differences on translation of foreign operations      -      -        -      -       -    -      414    (101)    313
 Total comprehensive income for the period                      -      -        -      -       -    -      414    2,298    2,712
 Transactions with owners
 Share based payment                                            -      -        -      -       -    16     -      -        16
 Dividend paid                                                  -      -        -      -       -    -      -      (2,052)  (2,052)
 Shares issued                                                  -      92       -      141     -    -      -      -        233
 Shares cancelled                                               (16)   -        16     -       -    -      -      (857)    (857)
 Six months ended                                               1,022  (1,664)  1,935  17,902  651  4,247  1,112  13,477   38,682

 28 February 2025

 

 

 The Character Group plc

 Notes to the Financial Statements

 

 

 1.  Basis of Preparation
 The financial information set out in this Half-Year Financial Report for the
 six months ended 28 February 2025 has been prepared under International
 Financial Reporting Standards (IFRS) as adopted by the European Union and in
 accordance with the accounting policies which will be adopted in presenting
 the Group's Annual Report and Financial Statements for the year ending 31
 August 2025.  These are consistent with the accounting policies used in the
 financial statements for the year ended 31 August 2024 as described in those
 annual financial statements.

 As permitted, this Half-Year Financial Report has been prepared in accordance
 with the AIM rules and not in accordance with IAS 34 'Interim Financial
 Reporting'.

 The consolidated financial statements are prepared under the historical cost
 convention, as modified by the revaluation of certain financial instruments
 and share based payments at fair value.

 These Half-Year Financial Statements and the financial information do not
 constitute full statutory accounts within the meaning of section 434 of the
 Companies Act 2006 and are unaudited. These unaudited Half-Year Financial
 statements were approved by the Board of Directors on 15 May 2025.

 The information for the year ended 31 August 2024 is based on the consolidated
 financial statements for that year on which the Group's auditor's report was
 unqualified and did not contain a statement under section 498 (2) or (3) of
 the Companies Act 2006.

 

 

 2.  Going concern
 The Directors acknowledge the Financial Reporting Council's 'Guidance on the
 going concern basis of accounting and reporting on solvency and liquidity
 risks' issued in April 2016.

 In assessing the Group and Company's ability to continue as a going concern,
 the Board reviews and approves the annual budget and updated forecasts,
 including forecasts of cash flows, borrowing requirements and headroom. The
 Board reviews the Group's sources of available funds and the level of headroom
 available against its committed borrowing facilities. The Group's financial
 forecasts, taking into account possible sensitivities in trading performance
 indicate that the Group will be able to operate within the level of its
 committed borrowing facilities for the foreseeable future. The banks remain
 supportive of the Group. The Directors have a reasonable expectation that the
 Group and Company have adequate resources to continue their operational
 existence for the foreseeable future. Accordingly, they continue to adopt the
 going concern basis of accounting in preparing the Interim report.

 

 

 3.                           Dividends
                                                           six months ended   six months ended   12 months ended

                                                           28 February 2025   29 February 2024   31 August 2024

                                                           (unaudited)        (unaudited)        (audited)

                                                           £'000              £'000              £'000
 On equity shares:
 Final dividend paid for the year ended 31 August 2024
 -       11.00p (2023: 11.00p) per share                   2,052              2,130              2,130
 Interim dividend for the year ended 31 August 2024
 -       8.00p per share                                   -                  -                  1,493
                                                           2,052              2,130              3,623

 

 

 4.                                  Earnings per share
 Basic earnings per share is calculated by dividing the earnings attributable
 to ordinary shareholders by the weighted average number of ordinary shares
 during the period.

 Diluted earnings per share is calculated by adjusting the weighted average
 number of ordinary shares in issue on the assumption of conversion of all
 dilutive potential ordinary shares. The Group has one (2024: 1) category of
 dilutive potential ordinary shares, being share options granted where the
 exercise price is less than average price of the Company's ordinary shares
 during this period.

 An adjusted earnings per share has also been calculated as, in the opinion of
 the Directors, this will allow shareholders to gain a clearer understanding of
 the trading performance of the Group.

 The calculations are based on the following:

                                                                         six months ended   six months ended   12 months ended

                                                                         28 February 2025   29 February 2024   31 August 2024

                                                                         (unaudited)        (unaudited)        (audited)

                                                                         £'000              £'000              £'000
 Profit attributable to equity shareholders of the parent                2,399              1,802              4,952
 Financial instruments fair value adjustments net of tax                 (795)              (115)              724
 Profit for adjusted earnings per share                                  1,604              1,687              5,676
 Weighted average number of shares
 In issue during the year - basic                                        18,677,989         19,349,512         19,072,573
 Dilutive potential ordinary shares                                      2,314              25,359             28,775
 Weighted average number of ordinary for diluted earnings per share

                                                                         18,680,303         19,374,871         19,101,348

 

 

 Earnings per share
 Basic earnings per share (pence)    12.84  9.31  25.96
 Diluted earnings per share (pence)  12.84  9.30  25.92

 

 

 Adjusted earnings per share
 Basic earnings per share (pence)    8.59  8.72  29.76
 Diluted earnings per share (pence)  8.59  8.71  29.72

 

 

 5.  Electronic Communications
 The Half-Year Financial Report for the six months ended 28 February 2025 will
 shortly be available for viewing and download on the Group's website:
 www.thecharacter.com (http://www.thecharacter.com) .

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IR EAFSSFAASEAA

Recent news on Character

See all news