Lego builds on pandemic boom: profits double at world’s largest toymaker
Lego has cemented its position as the world’s largest toy maker after posting bumper results in the second half of the pandemic.
The Danish group doubled its revenues in the first six months of the year as customers flocked to the reopened stores to buy Star Wars sets, model Colosseums and flower bouquets made from bricks.
The toys have become popular with adults sitting at home during the lockdown, and bosses believe they will remain fans.
Epic: A giant Lego Colosseum on display at a toy exhibit in San Jose, Costa Rica. The Danish toy maker doubled its profits in the first six months of the year
Turnover rose 43 percent to £2.7 billion, and the group posted a 140 percent increase in profits to £730 million.
Profits are ten times higher than the world’s second largest toy maker Hasbro, creator of Transformers and My Little Pony.
While parts of the global retail industry are still reeling from the pandemic and related supply chain issues, Lego said it took advantage of its decade-old strategy to place manufacturing close to its key markets, eliminating logistical and cost issues. saved.
Chief executive Niels Christiansen: ‘It has made us a bit more resilient, because we don’t have to send everything around the world.’