Character revenues rise up 22.1%

The Character Group reports another excellent year of trading with revenues rising to £121.0m up 22.1% on last time.

Underlying profit before tax for FY 2016 was £12.5m, this compares with underlying profit before tax of £10.2m last year.

The group says its expanding core of product groups, marketed at "value for money" price points, contributed positively to its overall performance, in both the UK and International markets.

In-line with its growth strategy revenue from International customers, which is generated in US dollars, grew to £31.7m, an increase of 50.3% when compared to FY 2015 and this will continue to provide a natural currency hedge against a currently weakened sterling.

The group says: "Our strategic focus remains: 'to seek out and develop exciting products which meet domestic and international market demand'. Overall, current trading continues to be in-line with the Board's expectations, with pleasing levels of increasingly predictable contribution being generated from our established cornerstone brands. We are also very satisfied with the inroads that we continue to make in overseas markets as demonstrated by the improved level of international sales; and we fully expect such growth to be a prominent factor in delivering our strategic growth ambitions going forward."