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Lego builds double-digit growth
The LEGO Group's net sales for the first half of 2010 were 34% higher than for the same period last year. The result before tax was DKK 1,559m compared with DKK 927m for the first half of 2009.
All LEGO Group markets recorded double digit growth rates in their sales during the first six months of 2010 – with particularly high growth rates in focus markets USA and Eastern Europe. Net sales for the first half of 2010 were DKK 5,863m compared with DKK 4,374m in the first half of 2009.
Classic product lines such as LEGO City, LEGO DUPLO, LEGO Star Wars, LEGO Creator and LEGO Technic maintained their vigorous growth rate. LEGO Games, the company’s range of board games introduced last year in the UK and in German speaking countries, is being launched across the rest of the world this year and enjoys a positive reception. Similarly LEGO Atlantis, the new play theme, has generated higher sales than expected. Finally, the new license based products of LEGO brand Toy Story and Prince of Persia were launched during the period and have been extremely well received by consumers.
CEO Jørgen Vig Knudstorp says of the results, “The results for the first half of 2010 are very satisfactory in both financial and non financial terms, and we are pleased to note that all our markets can report strong growth. We are moving into our peak season – the bulk of toy sales take place during the second half of the year – when our market releases will include a number of brand new LEGO Harry Potter products. Furthermore, in October we will have our new, major digital product launch: LEGO Universe which is an online game where an infinite number of children can play and build together across borders. It is too early to indicate a likely result for the year as a whole but based on results for the year so far we have every reason to have very positive expectations.”
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