Mega Brands makes a profit

Breaks even with $0.3 million earnings; toy sales grow by 11 per cent.
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In the financial quarter ending June 30th, Mega Brands' sales totalled $83.9 million, a six per cent rise on the Q2 2010 figure of $78.8 million.

The Mega Bloks maker had posted a loss of $0.4 million in the equivalent period last year.

International sales rose eight per cent, with a six per cent growth Stateside.

Marc Bertrand, president and CEO, Mega Brands, said: "These results, and the fact that retail sales of our products are running ahead of shipments, show that we are building momentum throughout our business.

He highlighted the importance of licences to the Mega porfolio, adding: "We continue to invest in innovation and licensed properties, including an expanded offering of video game based products from industry leaders such as Microsoft, Electronic Arts and Blizzard Entertainment."

Mega’s stationery and activities business also grew, by two per cent.

Bertrand said: "In Stationery and Activities, we are seeing early signs of a turnaround and we continue to implement our new business plan based on innovation and growth."

This is the seventh consecutive quarter of year-on-year growth for the firm.

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