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August 18, 2009

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Big profits built from Lego brick

DANISH toy maker Lego said yesterday that six-month net profit nearly doubled to 927 million kroner (US$177 million) on strong sales of its best-selling products.

Last year, Lego Group's profit for the period was 564 million kroner. Revenue from January through June surged 23 percent to 4.4 billion kroner from 3.6 billion kroner in the same period in 2008. The family-owned company does not release quarterly figures.

Lego CEO Joergen Vid Knudstorp said the "very satisfactory" figures gave reason to be "optimistic with regard to prospects for the remainder of 2009."

Lego saw sales growth particularly in the United States and eastern Europe, with products like Lego City and Lego Star Wars performing better than expected.

Encouraged by its six-month performance, Lego said it had made several investments to increase capacity, including in new injection molding machines in Denmark, Hungary and Mexico.


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