Hasbro figures show strong start to year

Hasbro's first quarter figures show profit and turnover up and ahead of analysts' estimates.
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Revenue rose 8.2 per cent to $672.4m, above analysts' average estimates. First-quarter net profit nearly trebled to $58.9m from $19.7 million a year earlier.

Hasbro said sales rose in all major product segments and territories. International sales rose 17 per cent.

In addition, the board has authorised the repurchase of an additional $625m worth of common stock. In the first quarter, it repurchased 2.2 million shares for $97.7m at an average price of $35.35 each.

While sales in its products for boys rose three per cent, with Nerf and Tonka performing well, it was girls and pre-school that boosted Hasbro's first-quarter sales the most, with increases of 16 per cent and 18 per cent respectively. Games and puzzles were up seven per cent.

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