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Lego sees record revenue as demand grows globally

Lego sees record revenue as demand grows globally

COPENHAGEN, Denmark (AP) — Danish toy maker Lego says its famous colored toy blocks were in high demand in most regions last year, helping its full year revenue to increase 6 percent to 37.9 billion kroner ($5.4 billion).

The privately-held group said it was the highest revenue figure in the company's 85-year history.

Net profit for 2016 was 9.4 billion kroner ($1.3 billion), compared with 9.2 billion kroner in 2015.

CEO Bali Padda said he was "satisfied" with Lego's performance, adding consumer sales growth in the last six months of 2016 "was at more sustainable levels than previous years."

The toymaker was "encouraged" by sales in Europe, saw "strong potential" in China but sales were flat in U.S. markets.

The group, based in western Denmark, doesn't release quarterly figures.

Updated : 2021-04-20 09:48 GMT+08:00