COPENHAGEN – Danish toy maker Lego said Tuesday its first-half profit rose 32 per cent as its new products, such as Lego Ninjago, sold above expectations and it continued to gain market share.
The family-owned company said net profit for the period January-June 2011 was 1.48 billion kroner ($288.3 million), up from 1.12 billion kroner for the same period last year. Sales rose 25 per cent to 7.36 billion kroner.
Lego said that besides its Lego Ninjago, new sets like Pirates of the Caribbean and Harry Potter were also selling better than expected. Classic products like Lego City and Lego Star Wars are also generating strong revenues.
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Lego said it saw double-digit sales growth in all its markets of more than 130 countries during the first half of 2011, except in Japan which suffered during the aftermath of the March earthquake and tsunami.
The company, based in Billund, Denmark, said it has increased its market share to 7 per cent from 5.9 per cent at the end of 2010.
“The first six months of the year have exceeded our expectations on all markets, and the financial result is very satisfactory,” said Chief Executive Joergen Vig Knudstorp, adding it was it was too early to say anything about the full year because the group’s peak season is during the Christmas sales.
The company, which employs some 8,360 people worldwide, is not publicly listed, but has published earning reports since 1997. It does not release quarterly figures.
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