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
-
Private school fees soar and VAT threat looms – what does it mean for you?
Rising private school fees could see more than one in five parents pull their children out of their current school. Before you remortgage, move house or look to grandparents for help, here’s what you need to know.
By Katie Williams Published
-
Best and worst UK banks for online banking revealed
When it comes to keeping your money safe, not all banks are equal. We reveal the best and worst banks for online banking when it comes to protecting your money from scams
By Oojal Dhanjal Published