- Character Group lowered its profit outlook following an 'extremely challenging' Christmas period for toy sales.

Following the weakened Christmas performance, pre-tax profit was expected to be circa £10m, short of current market expectations.

'The 2019 Christmas trading period was extremely challenging with the total toy market in the UK contracting for the second successive year, and those conditions will impact our results for the first half of the financial year,' the company said.

The company said it had entered the new calendar year with a 'very strong' product portfolio

'Our confidence for the second half has been boosted by the reactions from our customers to recent product previews and presentations, Character group said. 'With further viewing opportunities and product launches planned for the London Toy Fair, which takes place next week at Olympia, we expect the momentum to continue.'

At 8:55am: [LON:CCT] Character Group The PLC share price was -71p at 309p

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