Lego posts boost in profit, sales as it raised some prices
Lego says profits increased by 5% in 2022 from a year earlier and sales roles even as it raised prices on higher-ticket toys
By AP News
Published - Mar 07, 2023, 04:33 AM ET
Last Updated - Jun 22, 2023, 05:43 PM EDT
COPENHAGEN, Denmark (AP) — Lego said Tuesday that profits increased by 5% in 2022 from a year earlier and sales rose even as it raised prices on higher-ticket toys.
The Danish toy company said net profit rose to 13.8 billion kroner ($2 billion) from 13.3 billion kroner. Sales were up 12%, while revenue grew 17% to 64 billion kroner ($9.2 billion).
CEO Niels B. Christiansen called 2022 “a milestone year” as the privately held company celebrated its 90th anniversary.
We "landed the year beyond expectations on the back of exceptional growth last year and despite challenging market conditions,” he said.
