News
Huge first half profit leap for Lego
Samantha Loveday Aug 13 2008, 10:35am
Toy firm reports 166 per cent jump thanks to Star Wars and Indiana Jones products.
Internet news sources are this morning reporting that toy firm Lego has enjoyed a major 166 per cent increase in first half pre-tax profits, mainly thanks to strong sales of Star Wars and Indiana Jones brand products.
Pre-tax profits rose to 564 million Danish crowns ($112.6 million) from 212 million in the first half of 2007, due to higher sales and tighter cost controls.
Lego has achieved the impressive figures despite the fact that stagnation has hit the global toy market.
"The total toy market has not grown during the period, while the Lego Group has achieved a double digit growth rate in sales to consumers on many markets and increased its market share on all markets," said a statement from the company.
Star Wars products continued to perform above expectations, while the new licensed Indiana Jones line also sold "extremely" well.
Net sales for the first half of 2008 were 3.6 billion crowns, compared to 3.0 billion during the first half of 2007.
The firm is predicting 2008 sales to be in the region of 9 billion crowns, with pre-tax profit around the 1.5 billion mark.
