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Lego's profits suffer in 2019 to secure future growth
Last Updated: 2020-03-05 00:16 | Xinhua
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The Lego company said a massive investment program was the reason for a dent in profits in 2019, according to a press release about the firm's annual accounts released on Wednesday.

The firm achieved a record breaking revenue of 38.5 billion DKK (5.73 billion U.S. dollars) and sales showed a six percent increase in 2019. But over the past five years, the profit margin has fallen from 34.2 percent to 28.1 percent in 2019, according to the recent financial statement.

The profit drop came after heavy investment in 150 new Lego stores, mostly in China, new digital collaborations and products, and further e-commerce solutions during 2019, which, according to Lego CEO Niels B. Christiansen, were necessary to create "a larger market share" and "secure future growth".

"However, it was still a strong year, we outperformed others in the toy industry," said Christiansen in the press release. Enditem

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