Rose Art boosts Mega Bloks

Mega Bloks has posted its third quarter results, with profits up 45 per cent and turnover nearly doubled.
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Third-quarter profit for the three months from July to September totalled $20.4 million from $14.1m a year ago. Turnover increased 90 per cent from $85.9m to $163.5m bolstered by its $355m acqusition of Rose Art earlier in the year.

"The past three months have enabled us to confirm that Rose Art is everything we had expected," CEO Marc Bertrand said.

In addition to the Rose Art contribution, sales for the toys division were up 37 per cent to $117.4 million on strong demand for Mega Blocks and Magnetix construction toys, games and puzzles.

Sales for the stationery and activities division were $46.1 million, driven by Rose Art back-to-school sales.

"In Canada, we recorded growth across all categories," Bertrand added. "The international market remains one of our biggest opportunities for long-term growth. We have a great Mega Bloks business that's going to continue to grow internationally; we've now complemented that with Magnetix, which gives us another strength to grow that construction business, and this activities-stationery business will grow because we're going to globalise it," Bertrand said.

"So you can chalk that all up that our international business will continue to outpace our Americas business."

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