logo-loader

Character Group hit by demise of Toys R Us

Published: 08:45 11 Oct 2017 BST

picture of Peppa Pig
More bad news for Character

Character Group PLC (LON:CCT) blamed the demise of US retail giant Toys R Us for another profit warning.

All of the market had been affected by Toys R Us going into administration said the Teletubbies, Peppa Pig and ScoobyDoo toys maker.

READ: Toy maker Character Group ousts CFO Mark Dowding amid weak trading

International customers, in particular, are taking a very conservative approach going forward and the company's performance in the year to August 2018 will be significantly below current market estimates as a consequence. 

The warning comes just a month after the troubled toy maker ousted its head of finance, saying it had lost confidence in Mark Dowding.

Character added it expected the trading downturn to be temporary and was excited by its strongest new product line-up ever.

READ: Character Group wins rights to distribute Pokemon toys in the UK

Results for the year to August just ended were in line with expectations, with underlying profits to meet current market estimates.

Shares fell 16% to 374p.

Caledonia Mining tackles 2023 challenges with optimism for 2024 as it...

Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) chief executive Mark Learmonth tells Proactive's Stephen Gunnion the company faced a challenging 2023, primarily due to poor production in the first half of the year at its core asset, the Blanket Mine in Zimbabwe, and an underperformance...

1 hour, 21 minutes ago