A London-based toy maker said its sales at the end of last year had increased by 25 percent.
The Character Group, which produces toys for franchises such as Peppa Pig, Fireman Sam and Doctor Who, saw its UK sales from September to December increase by around 25% compared to 2019.
He also said that due to high sales levels, the group’s post-Christmas inventory was at its lowest in more than a decade.
However, he said he expects this year to be “difficult” due to lockdown restrictions and logistical issues.
The Character Group said: ‘Despite the prolonged blockages and logistical difficulties resulting from container shortages, delays in shipments from the Far East, congestion at UK ports and fallout from Brexit, profitability under- for the six months ending February 28, 2021 will be significantly higher than the same period last year.
“Beyond that, we expect the second half of this fiscal year to be difficult due to continued bottlenecks, restrictions and the continued effect that logistical difficulties are having on freight rates coming from ‘Far East (sometimes quadrupled since September 2020).
“Assuming that these conditions no longer worsen, the Board believes that the Group will meet current market expectations for the year ending August 31, 2021.”
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