Lego stacks up profits after building away from bricks
Lego said Wednesday it had managed to assemble growing sales and profits in 2018 thanks to its diversification away from its iconic coloured plastic bricks.
At a time when it isn't all fun and games for makers of traditional toys due to digital diversions for children, Lego managed to build profits in 2018.
The world-renowned Danish brand has in recent years moved strongly into areas such as video games, movies, cartoons and Legoland amusement parks.
Net profit at the group rose by 3.5 percent last year to more than 8 billion kroner (roughly 1.1 billion euros) on revenues that climbed 4 percent to 36.4 billion kroner.
Sales rose across the world and Lego aims to consolidate its position in the Chinese market by opening 80 shops in 18 cities.
Lego fared better than its US rival Mattel, maker of the Barbie doll, which suffered a loss of $531 million last year.
READ ALSO: Bankruptcy of Danish toy store chain reflects pressure on retail sector
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At a time when it isn't all fun and games for makers of traditional toys due to digital diversions for children, Lego managed to build profits in 2018.
The world-renowned Danish brand has in recent years moved strongly into areas such as video games, movies, cartoons and Legoland amusement parks.
Net profit at the group rose by 3.5 percent last year to more than 8 billion kroner (roughly 1.1 billion euros) on revenues that climbed 4 percent to 36.4 billion kroner.
Sales rose across the world and Lego aims to consolidate its position in the Chinese market by opening 80 shops in 18 cities.
Lego fared better than its US rival Mattel, maker of the Barbie doll, which suffered a loss of $531 million last year.
READ ALSO: Bankruptcy of Danish toy store chain reflects pressure on retail sector
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