It's good to hear a company is doing well in the recession. Bloombergreports that Lego's profits soared 60% in the first half of 2009. The company's partnership with Lucasfilm for Lego video games like Lego Star Wars helped boost profits. Lego's Lego City products also helped increase sales.
Lego, which estimates that children spend 5 billion hours a year playing with its multicolored bricks, has bought licenses from movie makers including Lucasfilm Ltd. to fend off competition from electronic toys and computer games. The closely held company said today it has expanded capacity with new block- molding machines in Denmark, Hungary and Mexico because of “sustained” growth expectations.
"It's particularly pleasing to note the continued strong growth in our classic product lines," Chief Executive Officer Joergen Vig Knudstorp said in the statement. There’s still "considerable uncertainty" surrounding the annual results as most of toy sales occur in the last months of the year, he said. "Based on the fine results achieved in the first half of the year, we're optimistic."
Even with parents cutting back on spending Legos are sure to be one item that remains in demand again this holiday season. This holiday there are also some Lego electronics coming out. There is also a Lego movie in development as well as an online world. The future looks pretty bright for Lego.
It's good to hear a company is doing well in the recession. Bloomberg 
