Sep 04, 2015 06:01 AM EDT

LEGO Surpasses Mattel; 'Jurassic World' And Elvis' Lines Propelled Double Digits Profits


LEGO surpassed rival U.S. toymaker Mattel and posted double digits profits. The introduction of "Jurassic World" and Elvis' lines in the first half of 2015 which were highly accepted by children worldwide was mainly the reason for its success.

In its interim financial report, the Danish toymaker said semi-annual revenues of 2015 were at 14.14 billion Danish kroner ($2.13 billion) up 23 percent from 11.46 billion kroner at the same period last year.

These figures propelled its lead over Mattel, maker of Barbie and Hasbro, which created Transformers, to become the largest toy company in the world, TV Newsroom reported.

However, the remaining six months of 2015, particularly weeks before the incoming holidays remain crucial for creators of toys and LEGO hoped that the latest upcoming "Star Wars: The Force Awakens" movie, due in December, will further boost sales.

Among its popular toy lines include LEGO City, Star Wars and Technic.

CEO Jorgen Vig Knudstorp said in an announcement that the outcome was "especially encouraging since we compare (it) to 2014 when 'The Lego Movie' products boosted our performance."

Chief commercial officer Loren Shuster said, Asia topped the sales production. "While all our regions experienced double-digit growth during the first half of 2015, it is particularly satisfactory that Asia saw the highest growth rates given the considerable investments we are making there."

According to Economic Times, the toy company will expand into Asia particularly in Jiaxing near Shanghai, China, before the year ends, and will initially start with packaging products manufactured elsewhere.

The firm's headquarters in Billund, Denmark currently mass-produced the trademark colorful bricks which distinguished LEGO from other toys, and at newer plants in Hungary, Mexico and the Czech Republic.

Press Examiner revealed carpenter Ole Kirk Kristiansen founded the privately owned toy company in 1932. In 1934, LEGO was born with its name derived from Danish words "leg godt," which meant "play well."

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