Telford-based toy manufacturer reveals strong sales and profit growth

The Telford-based business saw growth in sales of 9.5 per cent to £25.1 million in the 15-month period ending March 31 2021.

Operating profit grew to £2.3 million compared to the previous figure of £1.2 million in the calendar year 2019.

In the UK market, the company saw dynamic growth in the Bing, Hey Duggee and Smart Ball brands. Whilst the strategy to increase international sales also bore fruit with increased sales of 33 per cent to international distributors. This was driven by the Bing brand which is now the number one pre-school license in Italy.

In addition to strong financial results, Golden Bear made significant investments to underpin future sales and profit growth.

Alongside the strong license 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.

The company has also invested in its people with a number of new hires and the promotion of Becky Matthews and Rebecca Henchey to the board UK sales and marketing director and product and innovation director, respectively.

The company also made considerable investment in its sales and marketing capabilities with the creation of its innovative virtual toy fair platform and the in-house photographic studio.

Golden Bear’s sustainability push also continued apace with investment in solar panels and electric car charge points at the company’s premises in Telford. Further initiatives are planned going forward.

Barry Hughes, managing director, said: “Despite ongoing challenges caused by the Covid pandemic the company continues to trade strongly in 2021 and we are grateful that we not adversely impacted by Brexit as our products are shipped directly from our factories in the Far East to individual countries in Europe.”