CHARACTER Group, the maker of Fireman Sam and Peppa Pig toys, expects to reverse the loss it suffered during the first half amid “solid growth” in international sales.
In a trading update, the firm said on Friday that its performance during the second half of its financial year – which ended in August – was “satisfactory” and its full-year results should meet City expectations.
Character slumped to a pre-tax loss of £1.9 million in the first half, from a £5.6m profit a year earlier, as the tough retail environment
and weak consumer confidence contributed to a 31 per cent slump in revenues to £30.6m.
The group, led by executive chairman Richard King, said: “Although we are only at the start of the new financial year, we are encouraged to report that the group’s forecasted sales remain on track for the 2013 calendar year, which should lead to a substantially better result for the 2014 financial year.”
Character expects to publish its full-year results in early December.