Copenhagen, Sept. 28, (dpa/GNA) - Danish toymaker Lego reported high profits for the first six months of the year on Wednesday thanks to strong demand that helped offset higher costs.
Lego’s operating profit remained stable at 7.9 billion Danish kroner (just under $10.5 billion) compared to the same period last year, the company said.
Strong demand meant sales rose by 17% to 27 billion kroner, helping Lego offset cost inflation in raw materials, energy and freight, the company said in a statement.
“We had a good start in 2022 and are very pleased with our performance, which was above our expectations after an exceptional 2021,” Lego chief executive Niels B. Christiansen said in a statement.
Despite the uncertain economic situation worldwide, demand for the toy maker’s products continues to grow, he said, with the Lego Star Wars, Lego Technic and Lego City ranges particularly popular.
The company said 66 new Lego shops opened in the first half of 2022, 46 of them in China.
Lego is also marking its 90th birthday. It was founded in 1932 in Billund, Denmark, with the name derived from the Danish words “Leg Godt” which mean “play well.”
GNA