The LEGO Group has posted an increase in revenue for the first half of 2015 fueled by strong growth, especially in Asia, according to a press release issued by LEGO.
The Danish-based toy maker said that its revenue increased by 18 percent, excluding the effects of the strong U.S. dollar, compared to the same period last year.
If the effects of exchange rates are included, LEGO said in the press release that their revenue for the first half of 2015 increased to 14.1 billion kroner, or $2.1 billion compared to last year's 11.4 billion kroner or $1.7 billion.
This represents a 23 percent increase in revenue from the same period last year.
Jørgen Vig Knudstorp, president and CEO of LEGO, said in the press release that "a strong performance across the entire product range" has allowed the company to perform better in the first half of 2015.
"It is a great achievement and a result of the hard work of more than 15,000 LEGO colleagues around the world," he said. "This is especially encouraging since we compare to 2014 when 'The LEGO® MovieTM' products boosted our performance."
He added in the press release that although it is still early, they are expecting another satisfactory result for the full year.
The company's LEGO City, LEGO Creator, LEGO Technic, and LEGO Star WarsTM have continued to deliver strong global results.
LEGO Group adds in the press release that LEGO NINJAGOTM, LEGO Elves, and LEGO Jurassic WorldTM have also performed well, and were received positively by children from around the world.
"Our innovation program, connecting consumer insights to design and through to engineering and ultimately to sales, has performed tremendously this calendar year," Julia Goldin, executive vice president and chief marketing officer of LEGO, said in the press release.
Loren I. Shuster, executive vice president and chief commercial officer, mentioned in the press release that Asia has been the company's highest growth driver.
He said that the company has been investing considerably in the region as part of its globalization.
LEGO also adds in the press release that they are planning to increase their workforce in the company's manufacturing facility in Jiaxing, China.
The company plans to increase its current workforce of 230 to 600 by the end of 2015.
NZ Herald adds that its factory in Jiaxing is the group's first manufacturing facility in Asia.
The factory in Jiaxing is initially only going to package products that are made elsewhere.
NZ Herald adds that the company currently produce its toys at the group's headquarters in Billund, Denmark, and in newer plants in Czech Republic, Hungary, and Mexico.
