Business
Preliminary Results
Preliminary Results.
About this update from Character Group Plc
[{"type":"text","content":"\n RNS Number : 3480D Character Group PLC 01 December 2009 \n \n\nIssued by Citigate Dewe Rogerson Ltd, Birmingham\nTuesday, 1 December 2009\n \nPreliminary Results for the year ended 31 August 2009\n\n\n\nSignificant turnaround achieved, returned to profitability in H2\n\n\nBusiness remains cash generative, even after major share buy-back\n\n\nGroup currently has a net cash position of £3m and has substantial unused finance facilities\n\n\nDividend re-introduced reflecting Board's confidence\n\n\nFocus on costs, productivity and efficiencies delivered ongoing benefits\n\n\nMarket share increased to 5% by end of October 2009 - expect to see further improvement\n\n\nProduct portfolio successes include\n\n\nPeppa Pig, H M Armed Forces; Postman Pat; Scooby Doo; and new to the portfolio, Go Go Pets. New introductions in the current financial year include product ranges relating to the new TV series of both Doctor Who and Fireman Sam\n\n\"We have had to face the drastic changes to the marketplace following the closure of Woolworths, which affected not only our Christmas 2008 sales but had an even greater impact on our Spring 2009 business following this closure.\n\n\"As a business, we had to consolidate and re-group, whilst our focus was to deliver a portfolio that met both the new market aspirations and consumer demand at the same time as we had to continue to deliver service and support to both our customers and suppliers, who were all being squeezed by the more difficult conditions… against this backdrop and the tough environment continuing, we traded profitably during the second half of the year.\n\n\"It remains difficult to know exactly how the toy market will fare in the sales leading up to Christmas 2009, however, there are some very positive signs that our strategy of focusing on our own brands has been the correct approach for the Group and that there will be a general shortage of stock in the market place by Christmas with many of our products featuring in this shortage.\n\n\"The Board remains optimistic that, as a business, Character Group is strong and well positioned, both product wise and financially, to further develop its business and improve profitability going forward.\"\n\n\n\n\n\nEnquiries:...