Lego gives its 20,000 employees three days extra holiday after profits rise 140% | Lego


Lego, the world’s largest toymaker, has awarded its 20,000 employees three extra days of holiday and a special bonus after a year of bumper revenues.

The succession of pandemic-forced lockdowns has seen demand for Lego’s signature plastic bricks soar alongside a rapid expansion in China.

“The owner family wishes to … thank all colleagues with an extra three days off at the end of 2021,” the Danish company said in a statement.

The family group, which is not listed on any stock exchange, reported a net profit of more than 6.3bn Danish kronor ($954m) for the first half of 2021 – an increase of 140% on the same period in 2020. Revenues shot up 46% to 23bn kronor in the same period.

It had been “an extraordinary year for the Lego Group and our colleagues have worked incredibly hard”, the statement said, adding that an unspecified special bonus would be paid to staff in April 2022.

With families stuck at home for long periods, Lego said all its market groups delivered double-digit consumer sales growth with products “which appealed to builders of all ages and interests”. Top-performing themes included Lego City, Lego Star Wars, and Lego Harry Potter, while ambitious builders can also tackle a 9,090-piece model of the doomed ship RMS Titanic which retails for $629.99.

The group opened more than 60 new branded stores in the first half of 2021, and more than 40 of them were in China. This brings the total number of Lego retail stores as of 30 June, to 737, with 291 of those located in China.

Lego, a contraction of the Danish for “play well” (Leg godt), was founded in 1932 by Kirk Kristiansen, whose family still controls the group which employs about 20,400 people in 40 countries.

Read original article here

Denial of responsibility! Verve Times is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a comment