The Peppa Pig toymaker has had a strong start to the financial new year will demand and popularity for products continuing.
Character Options has seen the business momentum reported in November continue into the new financial year, the firm told investors this week.
Ahead of the company’s annual meeting it has reported that “performance and prospects” have remained in line with management expectations, buoyed by a ‘broad portfolio of toys and brands,’ that have helped underpin growth.
The Peppa Pig and Pokémon toys rights owner said that “despite disappointing performances reported by a number of retailers in recent weeks, our products maintained their popularity through the Christmas period, selling-through well at retail, and demand for our products is continuing.”
In the same update, Character acknowledged that the US continued to be “challenging” while the remainder of its overseas markets were “steady”.
The addition of Slo Squishes, Cra.Z.Slimy, Mashems and Treasure X have all helped the firm’s growth.
In October, Character took a 55 per cent stake in the Danish toy distributor OVG-PROXY, which is benefiting from logistical support from the wider group. A short-term setback arrived in the form of one of its major customers going bust.
“In any event, recent events in the market have shown that the market share of fallen retailers is quickly absorbed by other established retailers,” the firm told investors.
“In the circumstances, we remains confident that the acquisition will prove to be beneficial to the group.”