Strong sales and profit growth for Golden Bear – ToyNews

Golden Bear recorded sales growth of 9.5% to £25.1 million in the 15 months to March 31, 2021. Operating profit reached £2.3 million compared to the previous figure of £1.2m for calendar year 2019.

In the UK market, the company saw dynamic growth of the Bing, Hey Duggee and Smart Ball brands, while 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 taken significant steps to support future sales and earnings growth, including:

  • investment in its own intellectual property with the launch of Curlimals and Squirty Gertie for 2022, and other new brands in development for years to come
  • a number of new hires and the promotion of Becky Matthews and Rebecca Henchey to the board as UK Sales and Marketing Director and Product and Innovation Director, respectively
  • investment in its sales and marketing capabilities with the creation of its innovative virtual toy fair platform and in-house photography studio
  • a continuation of its sustainability plans 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: “Everyone at Golden Bear is rightly proud of the company’s performance in 2020/21 and a huge thank you must go to all of our staff and our retail partners and licensees who have delivered great results despite all the challenges. We continue to trade strongly in 2021/22 and look forward to sharing our fantastic new product portfolio at the London Toy Fair later this month. »

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