StockMarketWire.com - Character reported a fall in profit as a weaker backdrop for toy markets in both in Scandinavia and the UK weighed on growth.

For the year ended 30 September, pre-tax profit fell to £11.1m from £11.6m on-year and revenue rose to £120.4m from £106.2m. The weaker profit came amid a challenging year for the group, driven largely by the failure of the Scandinavian toy market to recover fully from the demise of Top Toy - formerly the largest toy retailer in that market - the continued decline of the UK toy market and a weaker pound, the company said. Looking ahead, it warned of a challenging trading in prospect for Christmas that would affect the first half of its current financial year but said the prospects for the second half looked positive.

'The strength of the portfolio of brands and products that Character is taking into 2020 greatly underpins our confidence that we will achieve market expectations for the current financial year,' Character added.

At 8:02am: [LON:CCT] Character Group The PLC share price was -4p at 411p



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