LEGO announces record profits

Colourful building blocks have carried LEGO safely through a sluggish global toy market

Feb 27, 2014

Toy colossus LEGO released its annual accounts today, revealing its tenth record-high profit in eleven years.

Since bottoming out in 2003 with a 1.5 billion kroner loss, the company has generated a surplus of 8.2 billion kroner.

Lego's total revenue rose by 10 percent, amounting to 25.5 billion kroner in 2013 compared to 23 billion kroner in 2012.

"LEGO beat its own profit record for the tenth time despite a general crisis in the global toy industry," enthused the CEO of LEGO, Jørgen Vig Knudstorp.

"In 2013 our sales alone rose by 11 percent, which was much better than the development in the general toy market. That is a very pleasing result. In less than ten years we have more than quadrupled our revenue," he told financial newspaper EPN.

While sales have been down in the US, Canada, Europe and Japan, a new increased focus on the Chinese market has caused sales to rise significantly there.

"We will keep our focus on China," Knudstorp said. "In China there are 600 million kids fitting LEGO's target group, so there's an enormous potential hidden there."

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LEGO announces record profits

New US Arctic security strategy co-opts Denmark as Russia deterrent

Anti-whaling activist and Greenpeace co-founder Paul Watson arrested in Greenland

Migratory birds bring dangerous ticks to Denmark

Planes grounded in CPH as worldwide IT outage hits airlines, media and banks

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Foreign labour contributes DKK 76 billion to Danish economy in three months

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How internationals can benefit from joining trade unions

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Novo Nordisk overtakes LEGO as the most desirable future workplace amongst university students

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