Lego profits soar as parents seek solution for bored kids Business

An adult craze for Lego sets during the lockdown propelled the Danish toy manufacturer’s growth to a five-year high.

More and more adults are buying bigger and more complicated Lego sets in the middle of a hobby search as shops, pubs and restaurants are closed. One of the best selling items is a detailed Lamborghini car.

Online sales were also boosted as stores around the world were forced to close and parents sought to entertain children trapped at home.

Operating profits rose 19% to 12.9 billion Danish kroner (£ 1.5 billion) last year, while revenues climbed 13% to 43.7 billion kroner (5 billion pounds sterling). Consumer sales jumped by more than a fifth.

Lego has also been given a boost with its new Super Mario sets, which mix physical bricks with digital games.

The company plans to increase its investment in similar products this year, including the release of Vidiyo this month – a tie-up with Universal Music that allows kids to create their own music videos with special effects and filters.

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This notice was published: 2021-03-10 12:52:34