Lego sales buoyant at half time - ToyNews

Lego sales buoyant at half time

Confident six month results from Lego show sales up by 23 per cent with profits also heading in a upward direction.
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Lego has seen sales leap by 23 per cent for the first six months of year, with profit before tax hitting DKK 927m (£107m).

This figure is compared with DKK 564m (£65.8m) for the same period last year.

Net sales for the first half of the year stood at DKK 4.3bn (£496.3m), compared with DKK 3.5bn (£403.9m) in 2008.

Classic product lines such as Lego City and Lego Star Wars were the best sellers, but the firm reported improvements across nearly all product ranges. For example, new play theme Lego Power Miners got off to a strong start, with sales well ahead of expectations.

The improved sales pattern was also seen in almost all markets, with North America and East and Central European markets in particular reporting strong increased on first half sales in 2008.

In addition, Lego Group's direct sales to consumers via its own brand retail stores, as well as via the internet and mail order, increased considerably during the six months.

"The first half of 2009 produced a very satisfactory result," said Jorgen Vig Knudstorp, Lego Group CEO. "It is particularly pleasing to note the continued strong growth in our classic product lines. As the bulk of toy sales occur during the last few months of the year, considerable uncertainty remains about the full year result.

"But based on the fine results achieved in the first half of the year, we are optimistic with regard to prospects for the remainder of 2009."

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