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Wednesday, August 19, 2009

LEGO profits rise...

Bloomberg is reporting the following:
Aug. 17 (Bloomberg) -- Lego A/S, Europe’s biggest toymaker, said first-half profit jumped 60 percent as it sold more building block products based on the “Star Wars” movies and classic “Lego City” series. Net income increased to 684 million kroner ($130 million) from 427 million kroner in the same period a year earlier, the Billund, Denmark-based company said in a statement on its Web site today. Sales rose 23 percent to 4.37 billion kroner.

Lego, which estimates that children spend 5 billion hours a year playing with its multicolored bricks, has bought licenses from movie makers including Lucasfilm Ltd. to fend off competition from electronic toys and computer games. The closely held company said today it has expanded capacity with new block- molding machines in Denmark, Hungary and Mexico because of “sustained” growth expectations.
Good news for we AFOLs. Now, let's see if this trend continues once the new LEGO movie is release. But that's a topic for another blog post. :D

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