The first half of 2018 LEGO results are now in! There's been some decline in terms of revenue and operating profit which is explained by the US dollar. Their mission now is to focus on growth.
Developments in first half 2018:
• Global consumer sales grew 1% in the six months to June 2018
• Revenue has stabilised and growth is flat while operating profit is up 4 percent in constant exchange rates compared with the same period in 2017.
• In DKK terms, revenue was 14.3 billion, a decline of 5 percent compared with 14.9 billion in the first half of 2017. Operating profit declined 4 percent to DKK 4.2 billion. Net profit was DKK 3.0 billion, down 10 percent. Cash flow from operating activities was DKK 4.1 billion, compared with DKK 4.6 billion in 2017. These declines were driven mainly by the weakening of the US Dollar.
The LEGO Group CEO, Niels B Christiansen said: “Our plan for 2018 is to stabilise the business and invest to create growth in the longer-term. These results show we’re on track and we are encouraged by the early progress. They are due to strong execution by our market teams and compelling innovation, including the successful launches of new products such as the LEGO® Creator Roller Coaster, the Jurassic World range and the LEGO Technic Bugatti Chiron. While we are encouraged by the progress we are making, there is more to do, and it will take time to return to sustainable growth.
*You can read the full press release here.
Article Link: http://toysnbricks.com/2018-first-half-results-for-the-lego-group/