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LEGO Profits Up 32% February 24, 2009 02:33AM |
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Admin Registered: 2 years ago Posts: 102 |
Quote:COPENHAGEN — Danish toy maker Lego on Monday said profit rose 32 per cent on strong sales in 2008 despite a slowdown in the wider toy industry.
Net profit for 2008 was 1.35 billion kroner ($232-million U.S.), up from 1.03 billion in 2007.
Sales of Lego's plastic building blocks rose 19 per cent to 9.53 billion kroner from 8.03 billion kroner the previous year.
The family-owned group does not release quarterly figures.
Lego said it saw strong sales in its City, Star Wars and Indiana Jones product lines, even though the global toy market declined because of the economic downturn.
The Billund, Denmark-based company said it expects moderate sales growth in 2009 despite the worldwide recession.
“Our optimism is supported by the results seen in the first months of the year,” Chief Executive Joergen Vig said.
Though the company is not publicly listed, it has published earnings reports since 1997.
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Re: LEGO Profits Up 32% February 24, 2009 04:11PM |
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Admin Registered: 2 years ago Posts: 102 |
Quote:LONDON - Lego is planning to increase its marketing spend after posting a 51% increase in British sales.
The company's UK managing director Marko Ilincic told The Times that marketing spend would be increased by nearly 30% this year to help build market share.
However, a spokeswoman for Lego played down the report, telling Brand Republic she did not recognise the figure. She stated that the toy company will use TV, online and social media in the coming months. It will also carry on sponsoring the Cartoon Network.
The Danish toy company has bucked the economic downturn to claim a 3.3% share of the UK toy market. The sector has seen a 2% slump in sales as parents tighten their purse strings.
Jorgen Vig Knudstorp, chief executive of Lego, said: "Despite gloomy economic prospects, we feel well prepared for growth in 2009 and our optimism is supported by the results seen in the first months of the year."
The spokeswoman highlighted that the brand has appeal during a downturn, as parents turn to more traditional, dependable products rather than more faddy items. She said: "We see in times of economic gloom that parents look for brands that can be trusted. Lego is a toy that can be turned to time and time again. That shines through."
Among the highest selling products in the Lego range were the Star Wars line, the new Indiana Jones range and the Lego City toy range, aimed at boys aged four to seven.
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Re: LEGO Profits Up 32% February 25, 2009 04:11AM |
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Re: LEGO Profits Up 32% February 25, 2009 02:16PM |
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Re: LEGO Profits Up 32% March 13, 2009 01:44AM |
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Re: LEGO Profits Up 32% March 17, 2009 11:50AM |
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Re: LEGO Profits Up 32% March 17, 2009 05:07PM |
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Re: LEGO Profits Up 32% March 17, 2009 07:35PM |
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Re: LEGO Profits Up 32% March 17, 2009 07:59PM |
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Re: LEGO Profits Up 32% March 20, 2009 03:53PM |
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Re: LEGO Profits Up 32% March 20, 2009 09:41PM |
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Admin Registered: 2 years ago Posts: 102 |