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Building a 64% jump in profit for Lego
Source: Agencies |
September 9, 2010, Thursday
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Print Edition
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DANISH toy maker Lego yesterday said its profit in the first half of 2010 jumped almost 64 percent as the family-owned company continued to see strong growth in demand.
Net profit for the first six months of 2010 totaled 1.12 billion kroner (US$192 million), up from 684 million kroner from a year ago.
Sales, mainly of its popular plastic building blocks, rose 34 percent to 5.88 billion kroner from a previous 4.37 billion kroner. Classic product lines like Lego City, Lego Star Wars, Lego Technic and Lego Duplo generated the largest sales.
The company, based in Billund, Denmark, said it is optimistic that the sales growth will continue into the second part of 2010 with the group's peak season during the Christmas sales.
"It is too early to indicate a likely result for the year as a whole but based on results for the year so far we have every reason to have very positive expectations," CEO Joergen Vid Knudstorp said in a statement.
Net profit for the first six months of 2010 totaled 1.12 billion kroner (US$192 million), up from 684 million kroner from a year ago.
Sales, mainly of its popular plastic building blocks, rose 34 percent to 5.88 billion kroner from a previous 4.37 billion kroner. Classic product lines like Lego City, Lego Star Wars, Lego Technic and Lego Duplo generated the largest sales.
The company, based in Billund, Denmark, said it is optimistic that the sales growth will continue into the second part of 2010 with the group's peak season during the Christmas sales.
"It is too early to indicate a likely result for the year as a whole but based on results for the year so far we have every reason to have very positive expectations," CEO Joergen Vid Knudstorp said in a statement.
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