Funtastic shares halted ahead of update

Shares in toy distributor Funtastic (FUN) have been halted from trade as the company prepares to issue an update to investors.

The distributor of brands including Ben10 and Pillow Pets recently told the market it expected to soon receive sales figures from the rollout of its Chill Factor slushy maker in the US, set to be a key driver of forecast earnings growth.

Funtastic has also been pursuing the sale of its Madman business, which distributes DVDs and Blu Ray products and manages rights for films and television programs.

The company made a $26 million loss in the first half of its fiscal year, and had forecast an improved performance in the second half.