27 June 2019 – agm statement
The company has revealed that the promising start to 2019 has continued and revenue for the 25 week period to 23 June was approximately 26% ahead of the same period a year earlier. Revenue growth has been driven mainly by character licensed wheeled toys with ranges which are sold typically to national retailers. LOL Surprise!, Peppa Pig and Paw Patrol showed considerable growth over the prior year and a Disney contract has seen the addition of Frozen, Spider-Man and Toy Story licences. The cinema release of Frozen 2 in November should bring further growth. Owned brands including Kickmaster, U-Move, Wired and Hedstrom were all ahead of the prior year. Ben Sayers delivered growth and was 15% ahead of the previous year as a result of the investment made in product development in 2018. The company has highlighted the uncertain outlook and the impact a strong US dollar could have. However, the shares are well off recent highs and must rate as a BUY.