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Toys, games and giftware maker Character reported a surge in annual profit, driven by 'buoyant' demand for its products that helped offset the drag from supply chain and logistics challenges.
For the 12 months ended 31 August, pre-tax profit jumped to £15.3 million from £3.9 million year-on-year as revenue rose to £140.0 million from £108.9 million.
The company recommended a final dividend of 9.0 pence per share, up 200% from last year, taking the total dividend to 15.0p per share, up from 5p last year.
Looking ahead, the company said that it margins would continue to be under pressure due to 'high freight rates and increased materials and labour costs, however, it was satisfied that the group remained on target to meet current market expectations.'
'Moving into 2022, our line-up of merchandise not only continues to feature some of the most sought-after toy products but will be further bolstered by the launch of a number of exciting new concepts, additions and brand extensions that the group will unveil at the London Toy Fair in January 2022 and through to Spring of next year,' the company said.