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Melbourne based Funtastic Limited (ASX:FUN) is set to launch a range of new products to the Australian market including new electric scooters which have been approved by Australia’s competition regulator.
Funtastic’s chief says due to the weak retail environment the company was taking a cautious outlook for the rest of the year.
The toy distributor secured a three year licence last month from LEGO Group, to manufacture and distribute certain LEGO products throughout Australia, New Zealand, USA, the UK and other parts of Europe and Asia.
Funtastic generated a net profit of $5.51 million in the six months to January 31, 2012.
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