The Lego Group posted a 5% increase in global consumer sales on Tuesday, driven by the particularly strong performance of its LEGO Marvel Avengers sets.
The Danish toy production company also revealed a 4% rise in revenue for the first half of 2019 to 14.8 billion Danish crowns.
Operating profit amounted to 3.5 billion Danish crowns, declining by 16%, whilst net profit was 2.7 billion Danish crowns, dropping 12% and driven by “significant investments in long-term growth”.
The toy maker said that LEGO Marvel Avengers and LEGO Movie 2 sets contributed to consumer sales growth.
The group also added that it will continue to invest in China and is on track to having over 140 stores in 35 cities by the end of the year.
It also plans to open an office in Mumbai early next year, where the company hopes to expand its presence in India.
“We are satisfied with our performance given the transformative shifts which continue to reshape the global toy industry,” the LEGO Group CEO, Niels B Christiansen, said in a company statement.
“Against this backdrop, we continue to grow consumer sales and market share in our largest markets,” the CEO continued.
“At the same time we’re making upfront investments to create a strong foundation from which to grow in the long term and inspire future generations.”
“This includes opening new markets, expanding in China, creating innovative retail experiences and developing exciting new products and play experiences.”
“We are pleased with the performance of our evergreen favourites such as LEGO City and LEGO Technic,” said the CEO
“We are also excited to explore innovative ways to bring the brick to life through digital play experiences such as new LEGO Hidden SideTM which blends the best of building with the awesomeness of augmented reality.”
Last year Legoland, inspired by Lego’s iconic building bricks, was ranked among the unhealthiest tourist attractions.
