Peppa Pig toy maker profits grow by 20pc

TOY licensing firm Character Group yesterday reported a 20 per cent rise in pre-tax profits to more than £9m.

But the group, which makes tie-in products for popular children’s shows such as Peppa Pig, Fireman Sam and Scooby-Doo, warned that its annual sales were likely to come in lower than previously forecast, though it said profits would remain steady.

Group sales for the year to 31 August rose 11.4 per cent to £94.95m, while profits before tax were up 19.8 per cent to £9.05m.

Executive chairman Richard King said: “The group’s strategy of focusing on brands and licensed products, where the business can bring into play its expertise in character licensing, product and brand development and distribution, has enabled the business to report solid growth in both revenue and profitability.”