Lego enjoys strong first half

Net sales increase 25 per cent, helped by Ninjago, City and Star Wars lines.
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Lego Group has reported a strong performance for the first half of 2011, with net sales rising to DKK 7,355 million, up 25 per cent on the same period last year.

Operating profit also grew to DKK 2,030 million compared with DKK 1,470 million for the first half of 2010.

All Lego Group markets achieved double digit growth rates during the first half of the year - with the exception of Japan (which suffered the after effects of the tsunami and earthquake events in the spring).

New product line - Lego Ninjago (pictured) - enjoyed a positive reception in all markets and is selling well above expectation. Classic product lines including Lego City and Lego Star Wars remain top sellers, while new sets based on licences such as Pirates of the Caribbean and Harry Potter are selling better than expected.

Consumer sales of Lego products hit double digit growth rates in almost all markets served by the company. The Group's share of the global toy market is now around seven per cent.

"The first six months of the year have exceeded our expectations on all markets, and the financial result is very satisfactory," said CEO Jørgen Vig Knudstorp. "But, as the bulk of our sales occur in the closing months of the year, it is too early yet to say anything definite about the overall result for 2011."

Lego Group also revealed that Christian Iversen, EVP of corporate center, and Lisbeth Valther Pallesen, EVP of community, education and direct, will leave during the autumn due to a new organisational lay out. This is expected to take effect from January 2012.


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