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Lego Profit Jumps 36% as Sales of Building Blocks for Girls Soar
Lego A/S profit rose 36 percent in
the first half of the year as sales of new building-block sets
for girls surged and as Europe’s biggest toymaker grabbed global
Net income climbed to 2.02 billion kroner ($338 million)
from 1.48 billion kroner a year earlier, the Billund, Denmark-
based company said today in a statement. Revenue rose 24 percent
to 9.13 billion kroner.
The “Lego Friends” series, introduced in January in most
markets, is Lego’s sixth attempt over the years to target girls
and the “most significant” new product in a decade, according
to Chief Executive Officer Joergen Vig Knudstorp. Lego said
today that it had sold twice as many of the sets as expected and
will increase production for the Christmas season, hiring 1,000
more workers this year.
“Lego Friends is a result of four years’ development, and
it has been amazing to experience the enthusiastic welcome that
consumers have given the new range,” Knudstorp said today in a
statement. “Sales have been quite astonishing.”
Lego, which is closely held, said it boosted its global
market share to more than 8 percent in the first half, a 1
percentage point gain from a year earlier.
The global toy market has contracted about 4 percent in the
first six months of 2012, Lego said.
Mattel Inc., the world’s largest toymaker, on July 17
reported a 1.2 percent decline in first half revenue. Hasbro
Inc., the world’s second-largest, on July 23 said sales declined
7.6 percent in the period.