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Tags: APFN | EU | Denmark | Earns | Lego

Lego's Business Returns to Growth after Tough Year

Wednesday, 27 February 2019 05:37 AM

COPENHAGEN, Denmark (AP) — Toy maker Lego says its business returned to growth last year, with revenue rising 4 percent over a difficult 2017.

The privately-held company reported Wednesday revenue of 36.4 billion kroner ($5.5 billion), with net profit increasing 3.5 percent to 8.1 billion kroner ($1.2 billion).

It said growth was in the "strong double-digits" in China and "in the low-single digits" in the United States and western Europe.

CEO Niels B. Christiansen said the company has been recovering from a slump in 2017, when sales fell for the first time since 2004 from record highs. He said the company had reached its goal "to stabilize the business."

Christiansen said Lego had "delivered modest top- and bottom-line growth."

The group, which is based in Billund, Denmark, doesn't release quarterly figures.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
Toy maker Lego says its business returned to growth last year, with revenue rising 4 percent over a difficult 2017.The privately-held company reported Wednesday revenue of 36.4 billion kroner ($5.5 billion), with net profit increasing 3.5 percent to 8.1 billion kroner ($1.2...
APFN,EU,Denmark,Earns,Lego
130
2019-37-27
Wednesday, 27 February 2019 05:37 AM
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