Peppa Pig toy manufacturer brings home bacon with 25% sales growth
A London toy manufacturer has announced that its sales at the end of last year increased by 25 per cent.
The Character Group, which produces toys for franchises such as Peppa Pig, Fireman Sam and Doctor Who, saw UK sales figures from September to December approximately 25 per cent higher than in 2019.
It also reported that due to the high sales levels, the group’s post-Christmas inventory was at its lowest level for more than a decade.
However, it said that it expects this year to be “challenging” due to lockdown restrictions and logistical issues.
The Character Group said: “Despite the extended lockdowns and logistical difficulties that have arisen from container shortages, delays with shipping from the Far East, congestion at UK ports and the fall-out from Brexit, underlying profitability for the six months ending 28 February 2021 will be significantly higher than for the same period last year.
“Looking beyond this, we expect that the second half year of this financial year to be challenging due to the continuance of the lockdowns, restrictions and the continuing effect that the logistical difficulties are having on freight rates from the Far East (at times quadrupling since September 2020).
“Assuming no further worsening of these conditions, the Board believes the Group will achieve current market expectations for the year ending 31 August 2021.”
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