Lego posts 10 pct sales rise in H1

Danish toy maker Lego Group said on Tuesday its first half year revenue in 2016 rose 10 percent from last year, backed by strong growth in Europe and Asia.

Sales for the period stood at 15.692 billion Danish kroner (about 2.35 billion U.S. dollars), up from 14.142 billion Danish kroner year-on-year, the company said in a statement.

Meanwhile, operating profit for the first six months of 2016 grew by 1 percent to 4.655 billion kroner year-on-year.

The group experienced double-digit growth in Europe and Asia, while the Americas were flat as compared to the year before.

The LEGO City, LEGO Creator, LEGO Technic, LEGO NINJAGO and LEGO Star War lines delivered very strong global results in H1, while the new launch LEGO NEXO KNIGHTS "is off to a good start," the company said.

During the first half of 2016, the LEGO Group has continued an already extensive global investment program in order to prepare for future growth.

The group's first Asian factory, which is located in Jiaxing of east China's Zhejiang Province, has begun manufacturing LEGO elements and it will be fully operational in 2017.

To support the continued growth and globalisation of the company, Lego also added more than 3,500 new colleagues in the first half of 2016, an increase of 24 percent, to 18,500 globally.

The statement however did not provide a full-year guidance for the company. (1 U.S. dollar = 6.67 Danish kroner) Endit