Character Group performs 'more strongly' in H2

3rd Oct 2023 10:13

(Sharecast News) - Toy designer Character Group said trading conditions across the retail sector had been "persistently challenging" in the twelve months ended 31 August, impacting its performance in the first half.

However, Character stated it had performed "more strongly" in the second half and now expects to report full-year underlying profits in line with current market expectations, citing the strength of its product portfolio as playing "a crucial part" in achieving this result in the second half.

The AIM-listed group also highlighted that it 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," said Character.

As of 1200 BST, Character shares were up 4.12% 277.99p.

Reporting by Iain Gilbert at Sharecast.com