COPENHAGEN: Lego, the world’s No 1 toymaker, said today that its revenue and profits rose last year as demand for its plastic bricks remained strong despite inflationary headwinds.
“These results were delivered despite extraordinary inflationary pressures on materials, freight and energy costs,” the company said in a statement.The privately-held company did not provide unit sales. “The company expects single-digit revenue growth in 2023, ahead of the global toy market and will continue to accelerate investments in strategic initiatives,” it said.
It has been buoyed both by sets based on franchises such as Star Wars and Harry Potter as well as home-grown hits like Lego Friends and Lego Technic.
Everyone increased their goods prices, hence earnings will increase.