Character Group FY revenue, profits grow

Toys and games designer Character Group said on Wednesday that both revenue and profits had grown modestly in the year ended 31 August, in line with market expectations.

Character said full-year revenues had grown from £5.3m to £6.5m, while statutory pre-tax profits rose from £4.7m to £5.7m and underlying earnings improved to £10.1m from £8.9m. Basic earnings per share jumped from 18.08p to 25.96p.

Gross profit margins were 26.5%, down slightly from FY23's 26.7% mark, and net assets contracted from £39.4m to £38.6m. Net cash, on the other hand, rose from £9.6m to £13.2m.

The London-listed group highlighted that its performance was achieved in "a harsh trading environment" and against "a constant flow of negative headlines and data" related to the cost of living and a lack of consumer confidence.

Character added that it would be recommending a final dividend of 11.0p per share, which, together with its 8.0p interim dividend, will bring the year's total dividend to 19.0p per share.

As of 0850 GMT, Character shares were up 3.45% at 273.10p.

Reporting by Iain Gilbert at Sharecast.com