Lego officially becomes world’s largest toymaker, surpasses Mattel

Posted on 08 September 2015. Tags: Becomes, largest, Lego, Mattel, officially, surpasses, toymaker, world's

Do you know those small, many-colored plastic blocks that when stepped on, cause immense pain? Well, those curse-inducing blocks have built quite the empire: Lego is now officially the world’s largest toymaker.

The privately-owned Danish company announced a stellar profit in the first half of 2015, which increased 30% from the year ago period on sales that rose 22%, sitting at $ 2.13 billion from $ 1.75 billion. Lego also raised its outlook for the year.

Lego’s impressive profit seems to be the result of smart business ventures. The company recently announced a $ 150 million investment to improve its core toy materials, which are currently based in petrochemicals.

Contributed By Sonia Narula

News of Delhi