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Character Group

Character Group shares advance as first half sales impress

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Character Group (LON:CCT) shares advanced around 9% in early deals after the compamy revealed a big jump in revenue for its first half.

A rise in international sales saw the kids' TV merchandise group increase revenue by 46% to £98mln in the six months to August 31, from £67mln in the same period of last year. Pre-tax profit was up to £7.1mln from £200,000, while underlying earnings (EBITDA) increased to £9.8mln from £3.56mln in the first half of 2013.

The group's top nine licensed brands - which include Peppa Pig and Doctor Who - account for around 75% of revenue, and it said it expects further growth from the brands.

"Our sales growth in the year under review saw an increase in our market share and reinforced our position as one of the UK's leading toy companies," said executive chairman Richard King.

"This new financial year has started off well, with very pleasing sales at the consumer level, which in the lead up to the crucial Christmas season is building ahead of our expectations, and we look forward to further growth in the current year."

Quick facts: Character Group

Price: £3.60

Market: AIM
Market Cap: £76.92 m
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