Character Group issues profit warning for 2013
Character Group, a toys and games company, has issued a profits warning for the financial year ending August 31st 2013.
Character Group, a toys and games company, has issued a profits warning for the financial year ending August 31st 2013.
It said: "Whilst sales in September were on budget, October sales showed a steep decline. The group now considers that it will fall materially short of its budgeted sales to Christmas and therefore will not be in a position to achieve the market forecasts for the financial year ending August 31st 2013."
It added: "although we are now expecting the first half results of the current financial year to be disappointing, we remain optimistic that overall, with Character's stable of established branded ranges and stronger new product line up, supported by encouraging initial reactions and feedback from our customers both domestically and internationally, trading will generate stronger sales in the 2013 calendar year as a whole and provide a much improved trading position as we move into the 2014 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
CM
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
The ten most expensive neighborhoods in London – do you live in one?
Homeowners in London are no strangers to seeing high property prices but some prime areas are far more expensive than others. We take a look at them
-
Trump tariffs challenged by US court
The legal basis underpinning Trump’s tariffs has been deemed unlawful by the US Court of International Trade. How have markets responded?