Business News
Lego pleased with six-month results
Aug 30, 2011, 11:39 GMT
Copenhagen - Danish toy company Lego on Tuesday reported a 25 per cent rise in net sales for the first half of 2011, lifted by new and classic products and tie-ins with Hollywood movies.
Net sales were 7.35 billion kroner (1.4 billion dollars), generating an operating profit of 2 billion kroner, the family-owned group said. This compared to an operating profit of 1.47 billion kroner for the corresponding six-month period in 2010.
The group said all its markets recorded double-digit growth with the exception of Japan where the tsunami and earthquake earlier this year slowed demand.
Lego estimated that it had a 7 per cent share of the global toy market.
The results 'have exceeded our expectations on all markets, and the financial result is very satisfactory. But as the bulk of our sales occur in the closing months of the year, it is too early yet to say anything definite about the overall result for 2011,' chief executive Jorgen Vig Knudstorp said in a statement.
Mainstays in the product lineup include the classic plastic building blocks as well as products and tie-ins with Hollywood movies such as Pirates of the Caribbean and Harry Potter.
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