Lego reports sales rise, but investments dent profits
Toy maker Lego said its revenue was up 4% in the first half of 2019 but significant investments to create long-term growth led to a 12% drop in net profit.
The privately-held Danish company reported first-half revenue of 14.8 billion kroner (£1.81 billion), while net profit dropped to 2.7 billion kroner (£330 million).
Lego CEO Niels B Christiansen said the group was “satisfied with our performance given the transformative shifts which continue to reshape the global toy industry”.
Mr Christiansen said that the investments were meant to grow, open new markets in China and India and develop online sales platforms, among other things.
The group, which is based in Billund, Denmark, does not release quarterly figures.