You could say Spin Master Corp. is on a roll. The Canadian toymaker and children's entertainment powerhouse behind the popular animated television series Paw Patrol marked its second consecutive quarter of increasing profitability on Thursday and showed no signs of slowing down in the second half of 2021.
The Canadian toymaker and children's entertainment powerhouse behind the popular animated television series Paw Patrol marked its second consecutive quarter of increasing profitability on Thursday and showed no signs of slowing down in the second half of 2021.
Spin Master global president and CEO Max Rangel said the company has stepped up its product prices to address higher costs. "We continue to see increases in input costs, primarily from plastic resin, paper and cardboard packaging and more recently from electronic chips," Segal said during the call. Some retailers already have the company's fall line up of products on display or featured on end caps, while in other cases the toys have arrived in local warehouses and are making their way to retail shelves, Rangel said.
The company, which reports in U.S. dollars, said it recorded a total revenue of $390.8 million in the three months ended June 30, a 39 per cent jump over the $281.1 million recorded during the same period of 2020.
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