Golden Bear has reported a growth in sales of 9.5% to £25.1 million in the 15-month period ending March 31, 2021. Operating profit rose to £2.3 million compared with the previous figure of £1.2 million in the calendar year 2019.
The company said that in the UK market, it ‘saw dynamic growth’ in the Bing, Hey Duggee and Smart Ball brands, while its strategy to increase international sales also bore fruit with increased sales of 33% to international distributors. This was driven by the Bing brand, which is now the number one preschool licence in Italy.
Golden Bear also made significant investments to underpin future sales and profit growth including:
Intellectual property: alongside the strong licence properties at Golden Bear, the company invested in its own Intellectual property with the launch of Curlimals and Squirty Gertie for 2022, and further new brands being developed for future years.
Investment in people: the company invested in its staff with a number of new hires and the promotion of Becky Matthews and Rebecca Henchey to the board in the roles of UK sales and marketing director and product and innovation director, respectively.
Marketing expertise: considerable investment was made in sales and marketing capabilities with the creation of its virtual toy fair platform and in-house photographic studio.
Sustainability: Golden Bear’s sustainability push also continued with investment in solar panels and electric car charge points at the company’s premises in Telford. Further initiatives are planned going forward.
“Everyone at Golden Bear is rightly proud of the company’s performance in 2020/21, and a massive thanks must go to all our staff and retail and licence partners who delivered great results despite all the challenges”Golden Bear managing director Barry Hughes
Golden Bear managing director Barry Hughes said: “Everyone at Golden Bear is rightly proud of the company’s performance in 2020/21, and a massive thanks must go to all our staff and retail and licence partners who delivered great results despite all the challenges. We continue to trade strongly in 2021/22 and look forward to sharing our fantastic new portfolio of products at London Toy Fair later this month.”