The construction toy titan Lego has delivered impressive interim accounts for the first half of 2015, announcing a turnover of 14.1 billion kroner, up 18 percent on the same period last year, resulting in pre-tax profit of 4.6 billion kroner – up 25 percent on 2014.
Jørgen Vig Knudstorp, the CEO of the Lego Group, put the strong sales down to hard work by the workforce.
“We are happy that we have again managed to develop exciting and fun experiences that really appeal to children around the whole world. Strong sales in the whole product line have put us in a position to deliver a highly satisfactory result for the first half of 2015,” he said.
“It’s an incredibly good performance and a result of the hard work that more than 15,000 Lego employees around the world have done. It’s especially encouraging when we compare with 2014 where the Lego Movie products positively affected our result. Even though it’s still too soon to come with an estimate for the full-year result, we expect a satisfactory result for the whole of 2015.”
John Goodwin, the Lego Group CFO, explained that the company benefited further from changes in currency exchange rates. When this is taken into account, turnover was up 23 percent.
“The weakening of the Danish krone and the euro in relation to the other big currencies around the world has had a significant effect on our result,” he said.
“Our reported sales figures in Danish kroner are increased by a further 5 percent solely because of the currency swing.”