Toys and games company Character Group said, despite weak sales to date, it still expects to meet current market expectations for the financial year ending 31 August 2012.
"We believe that the group's key brands have held up well with no substantial casualties," it said in a company statement.
Faced with weak sales of Peppa Pig and other TV tie in toys, Character reduced stock levels and reduced costs in the first part of the financial year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Looking ahead Character said, despite adverse economic conditions, it believes its key brands will continue to do well through the year and that some new products are expected to boost sales and could, "create a new toy category suited to the technological age."
Even so, Character conceded that it is more difficult than normal to forecast in uncertain economic conditions and highlighted possible disruption to trade heading up to both the Diamond Jubilee and the Olympics.
cj
-
-
Act now: First Direct’s £175 switching bonus ending soon
First Direct has launched a £12,500 prize draw on top of its £175 cash bonus - but they both finish soon, so you’ll need to be quick
-
Credit card providers slash 0% balance transfer deals
Customers face a double whammy of rising interest rates and shorter 0% balance transfer periods. We look at what’s going on in the credit card market and why you’ll need to act fast to get the top 0% balance transfer deal
