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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| The Character Group Plc | CCT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 248.00 | 08:00:18 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 248.00 | 248.00 | 248.00 | 248.00 |
| Industry Sector |
|---|
| MEDIA |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 16/05/2025 | Interim | GBP | 0.03 | 10/07/2025 | 11/07/2025 | 25/07/2025 |
| 18/12/2024 | Final | GBP | 0.11 | 16/01/2025 | 17/01/2025 | 31/01/2025 |
| 09/05/2024 | Interim | GBP | 0.08 | 11/07/2024 | 12/07/2024 | 26/07/2024 |
| 12/12/2023 | Final | GBP | 0.11 | 11/01/2024 | 12/01/2024 | 26/01/2024 |
| 11/05/2023 | Interim | GBP | 0.08 | 13/07/2023 | 14/07/2023 | 28/07/2023 |
| 22/12/2022 | Final | GBP | 0.1 | 12/01/2023 | 13/01/2023 | 27/01/2023 |
| 12/05/2022 | Interim | GBP | 0.07 | 14/07/2022 | 15/07/2022 | 29/07/2022 |
| 15/12/2021 | Final | GBP | 0.09 | 13/01/2022 | 14/01/2022 | 28/01/2022 |
| 29/04/2021 | Interim | GBP | 0.06 | 15/07/2021 | 16/07/2021 | 30/07/2021 |
| 10/12/2020 | Final | GBP | 0.03 | 14/01/2021 | 15/01/2021 | 29/01/2021 |
| 28/05/2020 | Interim | GBP | 0.02 | 16/07/2020 | 17/07/2020 | 31/07/2020 |
| Top Posts |
|---|
Posted at 24/5/2025 18:09 by h1a3 Hi Everyone,Great posts and I am really interested hearing your thoughts. I have been an investor for some 20+ years and have bought shares at many prices, including at 30p many years ago when there was a large rights issue and also I have sold some at around £6. The dividend have been constant and very good. CTT has been a rollercoaster investment that I have enjoyed following over the years. Also, a number of years ago, at Xmas time, I was able to purchase some extremely popular and ‘hard to buy’ toys direct from Character at a good price for my nieces. Further I am comfortable with holding CCT especially as Spain & Co keep adding and now hold around 25% plus. I am sure the rollercoaster ride will continue. Keep up the good work and I am convinced the shares will go up in time, we just all need to be patient. |
Posted at 16/5/2025 08:10 by mister md "...customers have become increasingly cautious and are not committing to orders to our expectations. This is impacting sales in all our key territories".And a dividend cut. I remain out for the time being ... |
Posted at 28/4/2025 10:45 by brucie5 Good posts, guys and reassuring to hear. I hold on behalf of a 3rd party folio, and though I'm down on my book cost your posts have given me further grounds to hold for the value/dividend proposition. It's also now on my personal watchlist for a small value player with a good dividend. |
Posted at 25/4/2025 19:31 by mrmyth Yes, there have been tariffs for a very long time, but these were very selective tariffs in terms of sectors and industries and did not exactly impact the company's profitability. There is this saying: “If it is not broken, do not fix it.” I assume the management was probably waiting to see who would win the elections and what tariffs exactly would be implemented before they proceeded. I hope that since the start of the year, the management has started working on diversifying its supply chain. I would be extremely disappointed and confused if they had not. Will email them on Monday to check. I discovered Character Group two weeks ago when I accidentally read this article about small U.K. companies hit by the tariffs. Initially, I was surprised by the small amount the share price fell since the tariffs were announced, and then I was surprised by the market value compared to the fundamentals of the company. One reason for there not to be lots of volatility in the share price is that the company is owned mainly by the founders, they would never sell, and the rest is retail investors, the market cap is too small to attract institutional though hoping some larger value investors will take notice eventually. Even among retail investors might not be popular or overlooked. Eventually, the price should reflect the true value, and even if it does not, an over 7% dividend yield is quite good, and the large share buybacks will only increase the value and subsequent dividends per share. This company is an example of a business If you could buy it, would you like to own it forever, and it is mainly due to the price in relation to the cash flow you would receive each year. |
Posted at 11/4/2025 07:32 by spob Maybe CCT can do a deal with other toy makers, to get toys into the US without paying a 145% tariff. Lol |
Posted at 11/4/2025 07:23 by spob .Only 20% of their sales go to the US So not a disaster Everything in the US will be going up in price due to China 145% tariffs So I don't see a problem with CCT raising prices to cover the 10% UK tax |
Posted at 13/3/2025 09:51 by spob .CCT is in an extremely favourable financial position. There is no need for the CCT directors to stab their small shareholders in the back. For anyone holding Hornby shares in an ISA. They are now forced sellers at a much lower price than before the announcement. Disgusting behaviour by Hornby directors imho. The moral thing to do would be to offer to buy out small shareholders at the market price before the announcement. |
Posted at 12/3/2025 06:34 by spob .From the Henry Spain Q4 report (published this month) Benjamin Graham said of the market: “Mr. Market is very obliging indeed. Every day he tells you what he thinks your interest is worth and furthermore offers either to buy you out or to sell you an additonal interest on that basis. Sometmes his idea of value appears plausible and justfied by business developments and the prospects as you know them. Often, on the other hand, Mr. Market lets his enthusiasm or his fears run away with him, and the value he proposed seems to you a little short of silly. “If you are a prudent investor or a sensible businessman, will you let Mr. Market’s daily communicaton determine your view of a $1,000 interest in the enterprise? Only in case you agree with him, or in case you want to trade with him. “You may be happy to sell out to him when he quotes you a ridiculously high price and equally happy to buy from him when his price is low. But the rest of the time you will be wise to form your own ideas of the value of your holdings, based on full reports from the company about its operations and financial position.” We are living in a time when Mr. Market has let his “fears run away with him”. We can see this in the prices of companies with good futures ahead of them when we think about reasonably feasible economic scenarios, ones with cheap shares relative to current earnings, and certainly cheap relative to future earnings. Take The Character Group. Mr. Market values this company at £48m. It has not made a loss for 15 years, and profits after tax average £8.5m over the last ten years. There is no debt and at least £13m of surplus cash. On top of that it is currently marketing a surplus property at around £12.5m. Thus, at some point in the near future it could choose to give over £25m back to shareholders, so effectively shareholders are paying £48m - £25m = £23m for a company that has demonstrated average profits of £8.5m. If it can merely achieve the same profits as the 10-year average in future we will be delighted. Given its strong position in toy markets around the world we expect it to grow its current level of £5m after-tax profits rapidly when the recovery comes. Their new toy ranges have been very well received by retailers. Character’s managers are highly respected and trusted by both customers and suppliers, a reputation built up over 30 years. While we are waiting for Mr. Market’s optimism to arrive, we can enjoy the 7% dividend yield and regular share-buyback programmes (they are simply generating more cash than they can use). |
Posted at 19/7/2024 15:21 by brucie5 A bit of a sleepy board. Just picked this up for an income folio. If you're happy with the 6% + dividend the metrics on Stocko look good: over 97 with three positive value screens including two Dremans (low p/cf & PE.PE Ratio (ttm) 10.8 PEG Ratio (ttm) 0.24 EPS Growth (ttm) 42.1% Dividend Yield (ttm) 6.27% This was Paul Scott's last write up in May: He notes generous divis and strong balance sheet, which I like. But I also like the chart, which looks primed for recovery. Surprised there isn't more interest? -------------------- Character (LON:CCT) 276p (pre-market) £52m - H1 Results - Paul - GREEN Designers, developers and international distributor of toys, games and giftware I’ve followed this toys company for many years, and my preconception is that shares usually look cheap or very cheap, but it has a rather erratic track record, and disappoints with profit warnings every now and then. It’s been a generous dividend payer in the past, and is doing buybacks too. There might have been question marks over management remuneration too, I vaguely recall. H1 results are much improved on last year - Revenue flat at £57.6m Adj PBT (profit before tax) up 320% to £2.1m (from a low base last year) Adjs are only small, and actually reduce profit this H1 by £154k. Adj diluted EPS up huge % from almost nothing last year, to 8.7p this H1. H1 dividend held at 8.0p, almost all of earnings, and uncovered by earnings LY. Outlook - positive news here - "The Group has a strong portfolio of products, underpinned by a strong balance sheet, and has a net cash position with substantial unutilised working capital facilities in place. On the back of our first half-year's performance and these signs of the Group's robust health, we anticipate profit before tax and highlighted items in respect of the full year to 31 August 2024 will exceed current market expectations. The Board is comfortable that the Group is on course to meet its targets." Balance sheet - looks healthy to me. Inventories have reduced by £6m to £11.7m, with the benefit flowing half through to increased cash of £13.4m, and reduced trade creditors. Working capital looks very comfortable, with £25m net current assets. Put another way, the cash pile of £13.4m almost completely covers what they owe suppliers (£13.8m). There are no significant longer-term liabilities. So my verdict is that CCT is in rude financial health, meaning that there’s no solvency or dilution risk, and it has ample dividend-paying capacity, as it demonstrated last year with divis still paid despite not being covered by earnings. It’s not fashionable at the moment (where everyone seems to chase high ROCE), but I like the safety that a strong balance sheet provides investors with. Cashflow statement - all looks fine to me, no issues. Note that share options charge is very low at £55k in H1, and £204k in FY 8/2023, certainly not excessive. Broker update - thanks to Allenby for crunching the numbers this morning. It increases FY 8/2024 PBT by 10% to £6.6m. In EPS terms that is: OLD: 23.3p, NEW: 26.1p. CCH shares historically have tended to only attract a high single digit PER. Is that fair though? I think a PER of about 12x seems fair here, so that gives me a share price target of 313p. That’s a bit above the current price, so there’s likely to be some upside here. A 10% rise in forecast earnings usually flows straight through to a 10% rise in share price on the day, so I imagine (I haven’t looked yet, as it’s funt o guess!!) we might end today c.300p, which would certainly not be a stretched valuation, especially when you take into account the very strong balance sheet, and generous divis, plus it has authority to do substantial buybacks - which I approve of where a share is cheap on fundamentals, and is not a diversion to cover up excessive management share options (as we saw recently at Trainline for example). -------------------- |
Posted at 09/5/2024 22:23 by pireric Some of my initial thoughts for CCT- Market cap £55.2m - Latest reported net cash £12.9m -> EV of £42.3m. Also £3m of investment property on the books, and freeholds (in use) I've long viewed CCT as more of a trading share than one to own long-term, despite the attractive dividend yield at these levels. And that is very evidence in the share price chart - lots of deep troughs and peaks periodically. Pretty obvious why; there are fluctuations around the toy industry in terms of what is in or out of fashion. But this has long been a great share to own when you're just coming of the bottom of one of those down years. I think that is where we currently are I think it's worth looking back at the last 8 years to get a better feel for what you get for the ~£42m EV: 2014: £98m revenue, 27p EPS 2015: £99m revenue, 37p EPS 2016: £121m revenue, 48p EPS 2017: £115m revenue, 50p EPS 2018: £106m revenue, 44p EPS 2019: £120m revenue, 43p EPS 2020: £109m revenue, 18p EPS - COVID 2021: £140m revenue, 40p EPS 2022: £176m revenue, 45p EPS 2023: £123m revenue, 20p EPS - Weak demand / COL squeeze The 2024 estimates from Allenby which are visible here are for 2024: £130m revenue, 26p EPS Ultimately either a revenue recovery here is key towards re-entering the 40p range or a cost slim-down. The cost slim-down one is easier to deliver I suspect with more certainty, as they have been very good at managing smaller revenue swings in the past and minimising the EPS impact. That is why the first half results this year are so meaningful; they are showing really good steps around cost management. Looking at the first half cost base and thinking about the second half, it looks very possible to me that you come out closer to 30-32p of EPS for 2024, particularly with the buybacks which are being conducted, which would be nice upside from current estimates. I would be surprised if when 2025 estimates are launched by the brokers, they aren't pointing to 35-37p+ of EPS for that year on the assumption that industry-level demand headwinds move back towards normality. Bear in mind we have a materially lower share count post the buybacks vs. prior years so like for like EPS versus many of the years in the time series is actually >5% higher. In any case, the earnings power of CCT seems to be closer to 40p than 26p currently forecast for this year, and that's even when higher management remuneration have been baked into those prior years. The EBITDA forecast on the 26p forecasts I estimate for 2024 minus ROU depreciation is £9.6m so this is trading on about 4.4x EV/EBITDA, which seems very undemanding as this is entering back into an earnings upcycle, hopefully. Hasbro and Mattel are on 9-12x. Proxy should also benefit from Euro 2024/Topps cards. On the core business, we'll see if the efforts to focus more on international markets pays off: "Whilst the UK and Irish domestic markets will always remain critical to Character, the Board recognises that opportunities for significant sales and profit growth lie in further developing the Group's international markets. We are focussing on this area of our business and we are pleased to report at this early stage that, following the recent previews and presentations of our 2024 ranges and new additions at the Global Toy Fair in Los Angeles to our retail and international distribution customers, our 2024 product offering has been very well received. Therefore, with International sales forecast to grow in the second half of the current financial year, this bodes well for the Group's strategic focus in this area." My inclination is to see fair value here is closer to 400p than 293p, which with a 6%+ dividend yield would be a very good return off these levels. When the MDs want to hang up their boots, I can see this being snapped up by a player in the industry, at a materially higher multiple, with the benefit that the directors from a shareholding perspective are well aligned. Eric |
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