Lego has defied a global slump in toy sales, according to The Times and Retail Gazette, with its UK arm posting record revenue of over £500m last year.
The UK-based business reported a 12% rise in revenue to £502m in the year to 31 December 2024 according to The Times, despite what it described as “economic challenges” including inflation and a softening toy market.
“Pre-tax profit jumped to £43m up from £24.2m the year before, while net profit hit £35.5m. This marked a sharp turnaround from a £4.5m loss the previous year”
Pre-tax profit jumped to £43m up from £24.2m the year before, while net profit hit £35.5m. This marked a sharp turnaround from a £4.5m loss the previous year, which was largely due to a one-off tax issue that the company said has now been resolved.
The success of the UK performance was due to launches, according to Lego, that included Lego Star Wars: Rebuild the Galaxy on Disney+, and popular licensed sets such as Lilo & Stitch. It expects these lines to help drive single-digit revenue growth in the current financial year.
The results mark Lego’s seventh consecutive year of sales and profit growth in the UK.
The wider Lego Group saw global revenue rise 13% to DK74.3 billion (£8.4bn), with net profit up 5% to DK13.8 billion. Its performance once again outpaced the global toy market, which fell 1% last year — following a 7% drop in 2023.
Mattel and Hasbro both saw sales fall over the same period, with Hasbro’s revenues impacted by the sale of its TV and film arm.
