Lego towers over Mattel in battle to become the biggest toymaker in the world due to summer movie success
LEGO has become the world’s largest toy maker after the success of this year’s Lego Movie saw sales of related products soar sending profits up 12 per cent to 3.6bn Danish kroner (£386.5m).
Revenues at the Danish firm rose 11 per cent during the first six months of the year to 11.5bn Danish kroner.
The results put Lego ahead of Barbie doll-maker Mattel whose first half results disappointed in July, as sales of its iconic dolls continued to decline.
“Our revenue in the first half of 2014 has more than tripled compared to first half-year revenue six years ago, in 2008,” said Lego group chief executive Jorgen Vig Knudstorp.
“It is a very satisfactory result that shows our significant growth in recent years in a tough economic environment.”
Lego said it saw double-digit sales growth in all regions, Europe, the Americas and Asia, despite the global toy market reporting a slow start in 2014.
“We are thrilled by the reception of the Lego Movie products that provided a significant boost to our sales during the first half of 2014,” said finance chief John Goodwin.
“The Lego Movie celebrated the creative potential in us all, which is also the foundation of any Lego product we develop.”
Euromonitor International Toys and Games analyst Robert Porter said on the results: “Reasons for growth can be attributed to many best practices that Lego adhere to but surely the shot in the arm has come from the phenomenal success of the Lego Movie… Not only did the Lego movie gross around $500m worldwide, it has also been pivotal in promoting new and existing Lego product lines.”