Telford-based toymaker reveals strong sales and profit growth

The company has seen dynamic growth of the Hey Duggee brand

The Telford-based business recorded sales growth of 9.5% to £25.1million in the 15 months to March 31, 2021.

Operating profit reached £2.3 million compared to the previous figure of £1.2 million in calendar year 2019.

In the UK market, the company saw dynamic growth of the Bing, Hey Duggee and Smart Ball brands. The strategy of increasing international sales also paid off with a 33% increase in sales to international distributors. This was carried by the Bing brand which is now the number one preschool license in Italy.

In addition to strong financial results, Golden Bear has made significant investments to support future sales and earnings growth.

Alongside Golden Bear’s strong licensing properties, the company has invested in its own intellectual property with the launch of Curlimals and Squirty Gertie for 2022 and new brands in development for years to come.

The company has also invested in its staff with a number of new hires and the promotion of Becky Matthews and Rebecca Henchey to the board of UK sales and marketing director and product and innovation director respectively. .

The company has also made significant investments in its sales and marketing capabilities with the creation of its innovative virtual toy fair platform and in-house photography studio.

Golden Bear’s sustainability efforts also continued with investments in solar panels and electric car charging stations at the company’s premises in Telford. Other initiatives are planned for the future.

Barry Hughes, Managing Director, said: “Despite the continued challenges caused by the Covid pandemic, the company continues to trade strongly in 2021 and we are grateful that we have not been affected by Brexit as our products are shipped directly from our factories in the Far East to various countries in Europe.

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