Group Trading Update

RNS Number : 0897O

Character Group PLC

13 September 2011

 



Issued by Citigate Dewe Rogerson, Birmingham

Date: Tuesday, 13 September 2011

Embargoed 07.00hrs

The Character Group plc

("Group" or "Company")

designers, developers and international distributors of toys, games and gifts

Group Trading Update

In light of the various reports in the press regarding the current economic difficulties, the Directors considered it appropriate to comment on the Group's trading for the financial year ended 31 August 2011.

Whilst it is still too soon after the year-end to provide definitive financial information, the Directors believe that results for the financial year just ended will meet current market expectations.

It is far too early to reach realistic conclusions for the new current financial year which started on 1 September 2011.  The Directors are very pleased, however, with the level of distribution of the Group's brands for this Christmas and the indicated support across our major brands for the Spring.

The Directors believe that for this Christmas season it is prudent to be conservative and to reduce the Company's risk profile by tighter than usual stock control. In taking this approach, it is likely that the Company may not maximise its potential sales but would, however, protect its profitability and cash flow.

Having started this new financial year in a positive manner with a generally good representation of our products in the stores, our major brands selling according to plan and early indications that our new introductions will be accepted in the marketplace, the Board expects that the Group's results for this new financial year will at least match those for the year just ended on 31 August 2011.

The policy relating to share buy-backs continues to remain in force, and the Directors may participate in any future share buy-back programme. Further share buy-backs, which have the benefit of further increasing the earnings per share, will continue as and when it is felt appropriate by the Company. 

It is anticipated that the Group will announce its Preliminary Results for the year ended 31 August 2011 on  29 November 2011.

Enquiries:
Richard King, Chairman		Russell Cook
Kiran Shah, Group Finance Director & Joint MD	Fiona Tooley/Keith Gabriel	Carl Holmes
The Character Group plc	Citigate Dewe Rogerson	Charles Stanley Securities
Tel: [phone]	Tel: [phone]	(Nominated Adviser)
www.thecharacter.com	Mobile: [phone] (FT)	Tel: [phone]
Ticker: AIM: CCT	Mobile: [phone] (KG)

 

END

 

 

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