Lego reports excellent profit in the first six months of 2024

The Danish company said first-half profits rose 13 per cent to 31 billion kroner ($4.6 billion), while net profit rose to 6 billion kroner.

Lego, the world's biggest toymaker, said its net profits rose 16% in the first half of the year.

The Danish company said first-half profits rose 13 per cent to 31 billion kroner ($4.6 billion), while net profit rose to 6 billion kroner.

"This growth is due to the larger stake of the Lego Group," said CEO Nils Christiansen.

The group, known for its plastic toys, launched around 300 new products during the first half of the year. The company also has higher revenue from franchises like Star Wars and Harry Potter.

Lego recently announced that it will form a partnership with Nike to develop products and content together.

Sales rose the most in Europe and North America but were smaller in China.

"We will continue to build the Lego brand in China, to open stores. It has potential," Christiansen explained.

The company is managed by the heirs of its founder and is not traded on the stock exchange. | BGNES