Corgi on the up

Toy firm sees net revenue increase by $1.2m to $43.3m for six months ending September 30th 2007.
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Corgi International is entering 2008 confidently after its recent progress in adding key licences to its portfolio, plus new emerging toy technologies - and its results for the six months ending September 30th 2007 have also given it a boost.

The firm's net revenue increased by $1.2 million to $43.3 million in the period. Its net loss reached $3.7 million, an improvement of $1.1 million from its net loss of $4.8 million for the six months ending September 30th 2006.

Its operations also incurred $1.8 million of one-off charges for the preparation of SEC filings for its three merged companies and private financings, one-time restructuring costs for the integration of the businesses and the cost of consolidating the firm's warehouse facilities.

"With our equity and debt financings closed and our recent progress in adding key licence partnerships and new emerging tou technologies, we are excited about our growth opportunities," said Michael Cookson, CEO of Corgi International.

"In the last year, we have made substantial progress in consolidating our merged companies and we expected to return to profitability over the next 12 months."

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