UK profits soar for Lego - ToyNews

UK profits soar for Lego

Lego's latest financials show a storming 12 months for the UK, with sales and profits up significantly on the year before.
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The results show double digit growth for UK sales for the fifth consecutive year.

Profit for the year before tax totalled £345m against £197m in 2008 - an increase of 42.8 per cent. Annual net profit amounted to £264m against £144m in 2008, up 45.4 per cent, while revenues amounted to £1.3bn against £1.01bn in 2008.

Lego also increased its global market share to 4.8 per cent.

"Our results in 2009 have been highly satisfactory,” said CEO Jørgen Vig Knudstorp. "We are very pleased to report this strong global growth which is driven by the classic product lines and, in addition, our roll-out within board games has come off to a really good start. Based on the good results in 2009 and the first months of 2010, we also expect sizeable growth this year."

Marko Ilincic, MD of Lego UK and Ireland, added: "We are extremely pleased with our results for 2009. It’s still a tough time for the market but the current trend for nostalgic toys and public demand for brands they know and trust has meant that we’ve fared well.

"Our classic product lines continue to drive sales whilst the introduction of Lego board games has helped fuel growth further. We’ve already had a good start to 2010 and based on the positive sales figures in 2009 we predict continued double digit growth for Lego UK and Ireland throughout the balance of this year."

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