Character Group (CCT.L), on Friday, issued a trading update and said it continues to project sales and profit before tax in the financial year ending 31 August 2025 to be at similar levels to those reported in the previous year.
As indicated in the announcement regarding the company's annual results on 18 December 2024, trading conditions remain challenging. While sales for the four months during Christmas 2024 have been on a like-for-like basis comparable to the levels observed in the prior year, the Board still expects FY25 results to be at levels similar to those reported in the previous year.
In conjunction with its strong portfolio of products for 2025, Character continues to enjoy the advantages of a solid balance sheet, characterized by a robust net cash position and considerable available working capital facilities.
The business operations continue to perform satisfactorily, and the Board anticipates that profitability, excluding items, for the year 2025 will be in line with current market expectations. The company remains committed to its share buyback initiatives and intends to persist with the existing buyback program, contingent upon the renewal of its buyback authority at the upcoming Annual General Meeting.
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