Character Group 1st Half Pretax Profit Fell Amid Difficult Macroeconomic Conditions
12 May 2022 - 6:39PM
Dow Jones News
By Kyle Morris
Character Group PLC said Thursday that pretax profit for the
first half of fiscal 2022 fell amid difficult macroeconomic
conditions and the recent weakness in sterling.
The London-listed distributor of toys, games and giftware said
pretax profit for the six months to Feb. 28 was 6.5 million pounds
($8 million), compared with GBP7.6 million a year earlier.
Revenue for the period was GBP90.9 million, compared with
GBP74.5 million, it said.
The board declared an interim dividend of 7.0 pence a share,
compared with 6.0 pence a year prior.
The company said its first-half sales momentum is continuing,
though it remains mindful of the challening macroeconomic
conditions and the sterling weakness. Inbound shipping delays are
continuing as a result of Covid-19 concerns, it said.
Pretax profit before highlighted items for the year ending Aug.
31 is seen in line with market expectations, Character Group
said.
Shares at 0756 GMT were down 7.00 pence, or 1.2%, at 575.00
pence.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
May 12, 2022 04:24 ET (08:24 GMT)
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