SPIN MASTER GROWS Q1 REVENUES & PROFITS YEAR ON YEAR

SPIN MASTER GROWS Q1 REVENUES & PROFITS YEAR ON YEAR

After a stellar 2021, Spin Master has continued their growth with a very successful Q1 2022.

Spin Master’s CEO Max Rangel was quoted as saying

“Following our very strong performance in 2021, we are extremely pleased with the positive momentum we saw across all three of our creative centers in the first quarter of 2022,” said Max Rangel, Spin Master’s Global President & CEO. “The Toy creative centre benefited from strong customer demand for our innovative toy line and our global commercial team continued to manage supply chain volatility to ensure we delivered product on time.”

Year on year revenues for Q1 increased by a whopping 34%, most of the increase coming from toy sales. Even more positively, Q1 operating income was $61.7m, up from $6.7m, which shows that Spin Master is not just shifting more boxes, they are doing it at profitable margins, despite all the supply chain shenanigans which are ongoing into 2022.

Looking forward, the company is predicting full year growth in the low double digits for toy sales. That’s quite something when there is no Paw Patrol movie this year and the company had such a stellar year last year. It is also astounding that the normally conservative bean counters at Spin Master HQ have allowed such a forecast to be released in a high inflation environment, where consumer spending is inevitably going to be affected by diminishing ‘real’ disposable income value, high fuel and food prices, and other factors.

Yet again, we can be hugely grateful to work in a business where demand remains strong even in tough times, and Spin Master certainly seem to be proving that so far in 2022…

 

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