Character Group PLC (AIM:CCT) has signalled that full-year underlying profits should meet expectations after trading in the second half took a positive turn.
Consensus estimates for pre-tax profit of around £5 million should be met, the toymaker said in a statement, despite “persistently” tough trading over the year to 31 August 2023.
“The business has performed more strongly in the second half,” the statement added, thanks to the “strength of the group’s product portfolio”.
Character previously pointed to the release of the Turtles film in cinemas in August as a likely driver for its Teenage Mutant Ninja Turtles toy line.
Its Heroes of Goo Jit Zu toys and influencer-inspired products had also done well early on in the year.
Character continues to have a strong balance sheet and net cash position owing to the better second half, it said, with full-year results due in December.