• Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups
 

Talk Finance

£$$€№₮IAL €¢¤₦¤MI¢ №€₩$
  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

Talk Finance

  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

In Money Matters

Lockdown comes as a blessing for LEGO profits

10th March 2021

Lockdown comes as a blessing for LEGO profits Pin It

LEGO toy manufacturer has achieved a record turnover and profit in 2020. Because people had to stay at home en masse to prevent the spread of the coronavirus, they turned to the plastic building blocks of the Danish company. That saw sales increase by 13 percent.

The annual turnover was DKK 43.7 billion, or 5.9 billion euros. The company recorded a profit of 9.9 billion kroner, which is almost a fifth more than in 2019.

According to LEGO, The popularity of toys increased during the pandemic among people of all ages. Before the introduction of lockdowns, the company launched sets that were mainly aimed at an adult audience, such as LEGO based on the sitcom Friends. But with the introduction of the quarantine measures, more and more attention was paid to the therapeutic effect that would emanate from Lego.

LEGO itself also points to its own digitization as the underlying cause for revenue growth. The company, largely owned by the Danish billionaire family Kristiansen, is increasingly marketing toys that combine the building blocks with, for example, computer games for children. For example, LEGO collaborates with Nintendo on sets based on Super Mario.

The increased interest in LEGO was also noticeable on the company’s site, with the number of visits doubling in one year. However, the company does not write off physical stores. Despite lockdowns, LEGO opened 134 new stores worldwide, 91 of them in China.

Share

No Comments

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Post

New drone attack on…

In Foreign Affairs

New drone attack on Saudi Aramco provoked oil price hike

View Post

Next Post

Despite Brexit and COVID fears…

In Domestic Affairs

Despite Brexit and COVID fears the British GDP dynamics is better than expected

View Post

In Money Matters

Just Eat Takeaway may become active in the grocery delivery market

View Post

In Money Matters

EasyJet operated at 14 percent capacity in the last six months

View Post

In Money Matters

Royal Shell asked shareholders for opinion on the ‘green plan’

View Post

In Money Matters

Dutch company acquires Sentinel Performance Solutions

View Post

Newsletter

Latest News

View

Brexit causes a massive HR re-distribution among financial specialists

18th April 2021

View

Jack Ma considers divestment from ANT Group

18th April 2021

View

Europeans are concerned about personal data use in GB

16th April 2021

View

EU and UK remain committed to resolve the trade issues

16th April 2021

Allow us to introduce ourselves

Talk-Finance.co.uk, the analytic media. We are focused on the fresh business, M&A and financial data. We pay attention to the interesting new projects and startups while not letting the whole picture to let unnoticed.

  • Investing.com
  • Runch.co.uk

Sign Up for Our Newsletter

Our friendly crew

  • Matthew Patridge, the chief Editor
  • Chris Kimble, the managing Editor
  • Matthew Weller, webmaster&technical stuff
  • Charles Sizemore, author
  • David Stevenson, author
  • Helen Rush, author

Contact us by [email protected]

© 2019 Talk Finance - All Rights Reserved. [email protected]