Lego appeals to new ‘builders’, with toymaker’s revenue up 46%
he Lego Group saw product sales and revenue bounce in the initial 50 % of the calendar year as lockdowns eased, with Harry Potter and Star Wars sets in large need.
The toy business, which is headquartered in Denmark, claimed overall earnings greater 46% to DKK 23 billion (£2.6 billion) in the 6 months to June 30. It added that functioning financial gain was up 104% to DKK 8 billion.
Chief executive Niels B Christiansen claimed “new builders” experienced been attracted to the model, and extra: “Our calendar year-on-12 months growth benefited from much less Covid-connected restrictions compared with 2020 as our factories operated uninterrupted and the majority of retail stores re-opened.”
The manager included that the organization benefited from previous investments in e-commerce, solutions and the world wide source chain community.
Christiansen stated: “As we glance ahead to the second 50 percent of 2021, we continue on to see solid demand for our products and solutions. Longer-time period, we assume major-line expansion to stabilise to extra sustainable levels as people today return to pre-pandemic investing designs. This trend, put together with our programs to speed up re-investments into the potential of the organization, is envisioned to end result in far more normalised financial gain concentrations shifting forward.”
Through the to start with half more than 60 new Lego branded retailers opened, deliver the complete amount of retail merchants to 737 as at the stop of June.