Lego Posts Small Profit Gain as Toymaker Invests in Growth
- Profit rose the least in three years as Lego invested more
- Building block maker expects to win market share again in 2023
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Lego Group reported the smallest increase in profit in three years as the world’s largest toymaker faced higher costs and invested heavily in production to meet rising demand.
Net income rose 3.7% to 13.8 billion kroner ($2 billion) in 2022, the Billund, Denmark-based company said on Tuesday. Expenses jumped 22% and revenue rose 17% to 64.6 billion kroner, driving gains in market share.