Karlie Group situation remains critical

The Karlie Group suffered a decline in sales of around 16 per cent to roughly € 83.5 mio in fiscal 2015. According to the company, the drop in sales was influenced by a weaker general business trend, range restructuring, which is now complete, the now completed modification of a number of products to bring them into line with the European Toy Safety Directive and supplier delays and bottlenecks in the first half of the year.
In spite of the evident success of the restructuring carried out by the Karlie Group, the management is not satisfied on the whole with how business is developing. The significant decline in sales has resulted in a poorer bottom line than expected, in spite of the considerable reduction in overall costs. The company now intends to concentrate on stabilising and increasing group sales while continuing to pursue strict cost management objectives.