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| Lego London Underground at its new store in Leicester Square - Lego/PA Wire |
Lego
has reported the highest revenues in its 85-year history even as
profits returned to a more “sustainable” level after years of
double-digit growth.
Sales
in 2016 rose 6pc on the previous year to hit a new high of 37.9bn
Danish kroner (£4.4bn), although in the previous year they had shot up
25pc. The brick toy company's profit rose 1.7pc to 12.2bn kroner last
year.
Bali
Padda, the first non-Dane to be in charge of the company, said he was
satisfied with the toy maker's performance during 2016, despite slowing
growth in the second half.
“We
were encouraged by our performance in mature markets in Europe and
continue to see strong potential in China, which represents an
attractive growth opportunity,” he said.
However, sales in the US were flat despite a significant increase in spending on its marketing.
Lego introduced 355 new products during the year,
and the Star Wars Millennium Falcon was its best-selling toy, ahead of
the Amusement Park Roller Coaster and the Porsche 911 GTS RS.
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| Lego Batman - Credit: Matt Alexander |
Mr
Padda said the company was increasingly focused on how to engage with
children online, and will this year introduce a new online platform to
encourage children to share what they have built out of the iconic
bricks.
Previous
chief executive Joergen Vig Knudstorp stepped down at the end of 2016
to take on a new branding role within Lego, aimed at expanding the toy
overseas.
He
is widely credited as having turned the business around, overseeing a
period from his joining in 2004 in which Lego’s revenue increased
five-fold and it returned to profit.
Under
his leadership, the brand also made a successful foray into cinema with
The Lego Movie, and has recently released another film, Lego Batman.
It also recently opened a huge flagship store in London's Leicester Square, the biggest in the world.
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| A woman looks at boxes in the world's biggest Lego store in Leicester Square in London |
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