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JB Hi Fi is selling Lego games and Nine Entertainment is preparing to launch a new Lego TV show. However, Lego’s business is facing pressure from a sharp decline in profits in 2024.
Net profit fell 5% to US$2.5 billion in 2023, with sales of US$14.55 billion, mainly affected by the decline in the global toy market. Despite strong growth in the U.S. and Central and Eastern Europe markets, poor performance in the Asia-Pacific region led to lower sales.
Lego’s CEO expressed satisfaction with the performance in 2023, especially in the most negative year for the toy market.
(Source: channelnews Image source: unsplash)
