Lego Movie gives manufacturer boost over competitors
The success of the Lego Movie has helped toy maker Lego buck industry trends to post strong 2014 results and narrow the gap on market leader Mattel.
Lego, owned by the family of company founder Ole Kirk Kristiansen, sees its growth moderately ahead of the global toy market in 2015, driven by innovation and global expansion.
Receiving a boost from interest linked to the Warner Brothers film The Lego Movie, Lego's revenues grew 13pc to 28.6 billion Danish crowns ($4.4bn) while U.S. Barbie-maker Mattel's sales fell 7 percent to $6.0 billion, shrinking the gap between the world's two largest toy makers.
Hasbro, also a U.S. company, increased sales by 4.8 percent to $4.3 billion in 2014.
Lego chief executive Jørgen Vig Knudstorp said: “Our ability to innovate and reinvent the Lego play experience every year is vital for our success.”
The company said sales grew by more than 10 percent in the United States, Britain, France, Russia and China, with 'healthy' single figure growth in central and northern European markets.
Lego's net profit rose 15pc to 7 billion crowns in 2014. It said its 'Friends' series, widely recognised as targeted at girls, was one of its top selling lines in 2014.
(additional reporting Reuters)