Thursday, January 28, 2021

Lego records its highest revenues ever

Lego has posted the highest revenues in its 85-year history despite growth and profit slowing down to more “sustainable” levels.

Sales in 2016 reached a new high of 37.9 billion Danish kroner (£4.4 billion), a six per cent increase on the previous year. But this growth marked a slowdown for the toy manufacturer and retailer, as sales had shot up by 25 per cent in 2015.

Meanwhile, the company’s profit rose 1.7 per cent to 12.2 billion kroner (£1.4 billion) last year.

Lego boss Bali Padda, the company‘s first non-Dane chief executive, was satisfied with last year‘s performance, despite slowing growth in the second half and flat sales in the US.

READ MORE: Lego expands commitment to London amid “most powerful brand” title

“We were encouraged by our performance in mature markets in Europe and continue to see strong potential in China, which represents an attractive growth opportunity,” he said.

Lego‘s financial performance was boosted by the introduction of 355 new products during the year, including the best-selling Star Wars Millennium Falcon, the Amusement Park Roller Coaster and the Porsche 911 GTS RS.

Lego also opened a new flagship store in London’s Leicester Square, the brand‘s biggest store in the world.

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