Bright Things plc
14 September 2005
14 September 2005
Bright Things plc
Trading update
Bright Things, the developer of an educational games console, Bubble, and
associated software for the pre-school market, is pleased to announce a trading
update.
Commenting on the trading update, Dominic Wheatley, CEO Bright Things said:
'This is a very exciting stage in Bright Things' development. Bubble is now
available in shops across the country and we will soon be releasing new titles -
including Noddy and Thomas and Friends. Whilst the pre-school market remains
highly competitive, we are encouraged by the early feedback from the soft
launch.'
Product
Bubble was launched in the UK with a choice of Balamory or Teletubbies software
in late August. Initial consumer demand has been encouraging and in line with
expectations. Early feedback from consumers and our distributor is so far
positive and encouraging for the key Christmas selling season ahead.
As previously announced, the company entered into a distribution agreement with
Bandai UK. In the agreement Bandai guaranteed to purchase 100,000 units of the
hardware and 200,000 units of the software within 12 months from launch. The
company has now received purchase orders in excess of these numbers for
production through to November, and an indication that further orders may need
fulfilment before Christmas.
Margins remain tight on these early shipments whilst the engineering cost
reduction phase continues. This is expected to improve over the coming months as
both time and volumes help us lower the cost of goods.
Manufacturing/Supply
The factory is now fully operational and is on target to manufacture and ship
our requirements for the Christmas season.
To-date in excess of 20,000 Bubble bundles and 20,000 standalone software have
been landed in the UK.
Licence properties
In addition to the 15 properties already announced from BBC Worldwide, Chorion,
Entertainment Rights and HIT Entertainment we are pleased to announce 5 recent
acquisitions: Dora the Explorer from Nickelodeon; Babar, Franklin and The Fairly
Odd Parents from Nelvana; and Koala Brothers from Spellbound. These new
properties strengthen our international catalogue.
Marketing / PR
The main TV advertising campaign for Bubble will commence at the end of
September. The TV advert can be seen on our website. www.worldofbubble.com
Intellectual Property
Following the acquisition of PushPlay Interactive, the company has focused on
integrating the Intellectual Property owned by the group. Continued effort is
being applied to the Patent applications.
Software development
Balamory, Teletubbies and Tweenies are available now in the UK. Fimbles is
entering manufacture. Noddy and Thomas and Friends are still being finalised and
are expected to land in early November.
An additional 4 software titles have entered development (Bob the Builder,
Angelina Ballerina, Postman Pat and Pingu). These titles are expected to launch
in spring 2006.
In summary
The Directors remain confident of the potential for this product in the UK and
are encouraged by the early feedback from the soft launch of the product into
the UK marketplace. Of course a note of caution remains due to the highly
competitive nature of the pre-school marketplace.
We continue to review and assess the licensing and distribution strategy of the
product outside of the UK and Eire territory.
More product information is available at www.worldofbubble.com
Ends
For further information please contact:
Bright Things PLC 0870 351 7770
Dominic Wheatley, CEO
Ady Moores, CFO
Matthew Tims, Publishing Director
Giles Croot / Mark Antelme, Brunswick 020 7404 5959
This information is provided by RNS
The company news service from the London Stock Exchange
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