Danish toy maker Lego again posts improved profit, revenue

COPENHAGEN, Denmark (AP) — Danish toy company Lego says its net profit increased by more than a third in 2021, the second year of the COVID-19 pandemic, coming in at 13.5 billion kroner ($2 billion), up from 9.9 billion kroner a year earlier. Consumer sales were up 22% while revenue grew 27% to 55.3 billion kroner ($8.1 billion). CEO Niels B. Christiansen said he was “grateful for everything that the Lego group was able to achieve in 2021.” In its earnings report Tuesday, the privately held group said it saw its operating profit grow 32% to 17 billion kroner ($2.5 billion) despite significant investments in major long-term initiatives. All markets delivered double-digit growth. The toys are sold in more than 130 markets worldwide.