June 13, 2024

GWS5000

Make Every Business

Lego profits soar as parents seek solution for bored kids

A grown-up craze for Lego sets during lockdown has sent growth at the Danish toy maker surging to a five-year high.

More adults are buying themselves bigger and more complicated Lego sets amid a search for hobbies while shops, pubs and restaurants are shut. A detailed Lamborghini car is among the best-selling items.

Online sales were also boosted as shops worldwide were forced to close and parents sought to entertain children stuck at home.

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

Lego was also boosted by its new Super Mario sets, which blend physical bricks with digital games.

The company plans to ramp up investment in similar products this year, including this month’s release of Vidiyo – a tie-up with Universal Music that allows children to make their own music videos with special effects and filters.