ROARING sales of Jurassic Park products helped Herald Holdings post a 31 per cent profit increase to $97.7 million for the six months ended September 30 from $74.6 million a year earlier.
Herald's shares, which last year hit a record high of $2.50, have traded between $1.70 and $2.35 over the past seven months. The stock closed yesterday up 12.5 cents at $2.325.
The company, which captured the imagination of investors last June when rumours hit the market that it was making action figures for US toy giant Hasbro based on the hit movie Jurassic Park, saw turnover climb a modest 6.6 per cent to $524.6 million from$491.8 million.
Herald director Robert Dorfman said sales of Jurassic Park products during the crucial Christmas buying season were strong in the wake of the movie's huge success, highlighted by box office sales of more than US$800 million.
Even more encouraging to Herald's prospects is the prospect that Jurassic Park products will be around much longer than short-term fads such as Cabbage Patch Kids and Teddy Ruxpin.
''Dinosaurs were already interesting but Jurassic Park gave them a shot in the arm and injected some sex appeal,'' Mr Dorfman said, adding that speculation about a Jurassic Park sequel would provide some valuable staying power.
Herald's other toy products such as GI Joe and Aliens action figures also had strong performances.
