Toy maker Lego said Tuesday its revenue rose 4 per cent in the first half of 2019 but significant investments to grow its business in China and India led to a 12 per cent drop in net profit.
The privately-held company reported first-half revenue of 14.8 billion kroner (USD 2.2 billion), while net profit dropped to 2.7 billion kroner (USD 400 million).
CEO Niels B. Christiansen said the group was "satisfied with our performance given the transformative shifts which continue to reshape the global toy industry."
"The growing middle class, the importance of education and growing economy make India a logical next step in our efforts," Christiansen said, adding that "stores are really important to learn the product so children can touch it."
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