Spin Master (TSE:TOY) has released an update.
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Spin Master Corp. has announced a 16.5% revenue increase to $316.2 million in Q1 2024, driven by the acquisition of the Melissa & Doug brand which contributed $40.4 million in sales. Despite the revenue growth, the company faced a net loss of $54.8 million compared to a minor loss the previous year, attributing to the integration of Melissa & Doug. The firm remains positive, doubling its quarterly dividend to CA$0.12 and continuing its focus on strategic investments and content creation for long-term growth.
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