Trading Update

Character Group PLC

03 October 2023

 

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

THE CHARACTER GROUP PLC

("Character", the "Company" or the "Group")

Designers, developers and international distributor of toys, games, and giftware

Trading Update

London: Tuesday, 3 October 2023:  The Board of Character provides the following update to shareholders on the Group's trading ahead of the publication of the Company's audited results for the financial year ended 31 August 2023, which are scheduled to be released in December 2023.

Trading conditions across the retail sector have been persistently challenging throughout the financial year ended 31 August 2023, particularly during the important Christmas 2022 period, and these factors impacted the Group's performance in the first half.  However, the Directors are pleased to report that, in line with the Board's predictions, the business has performed more strongly in the second half and the Group expects to report full year underlying profitability in line with current market expectations.  The strength of the Group's product portfolio has played a crucial part in achieving this result in the second half. 

The Group continues to have a strong balance sheet and a net cash position. The Directors look forward to updating shareholders further on this and on the current year's trading at the time of release of the Group's 2023 audited results.

The Character Group plc

FTSE sector:  leisure goods:

FTSE AIM All-share: symbol: CCT

Market cap: £52m

Email:  [e-mail]

Group website: www.thecharacter.com

Product ranges can also be viewed at www.character-online.co.uk

CHARACTER GROUP PLC CCT Stock | London Stock Exchange

Enquiries to: The Character Group plc Jon Diver, Joint Managing Director Kiran Shah, Joint Managing Director & Group Finance Director Office:  [phone] Mobile: [phone] (JD) Mobile: [phone] (KS)

Panmure Gordon (Nominated Adviser and Joint Broker) Atholl Tweedie, Investment Banking Rupert Dearden, Corporate Broking Tel:  [phone]

Allenby Capital Limited (Joint Broker) Nick Athanas, Corporate Finance Amrit Nahal / Tony Quirke, Sales & Corporate Broking Tel:  [phone]

TooleyStreet Communications Limited (Investor and media relations) Fiona Tooley Tel:  [phone] Email: [e-mail]

 

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