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Character Group jumps as UK business racks up record sales

The AIM-listed toymaker said its established in-house brands, which include Teletubbies and Peppa Pig, together with its new ranges had been selling “extremely well”
Peppa Pig
Character's in-house brands, which include Peppa Pig, have been selling "extremely well"

Character Group PLC (LON:CCT) shares jumped in late-morning trading Friday after it said it will “comfortably” meet market expectations for the full year as its UK business delivered record sales.

In a trading update, the AIM-listed toymaker said its established in-house brands, which include Teletubbies and Peppa Pig, together with its new ranges had been selling “extremely well”, while its “craze” lines had added a successful supplement to its product portfolio.

Confident of prospects for Christmas season​

The firm added that it had continued to see positive listings and strong demand from its customers for core ranges and was confident on its prospects for the all-important Christmas season.

The update will come as good news to investors, as the group’s half-year results in April reported a pre-tax profit that was around 50% lower than the same period in 2017, however at the time, the firm said growth would return in the second half and it expected results to strengthen “significantly” for the full year.

Character will release its full-year results on 29 November.

Shares were up 8% at 540p.

-- Adds share price --

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