Lego: Profit spikes as sales pass major milestone
Profit at the UK arm of Lego spiked in 2024 as its sales passed the £500m mark for the first time, it has been revealed.
The Berkshire-headquartered division of the Danish giant has reported a pre-tax profit of £42.9m for its latest financial year.
The total comes after Lego posted a pre-tax profit of £24.2m for 2023.
New accounts filed with Companies House also show its turnover rose from £449.2m to £501.7m over the same 12-month period.
The results mean that 2024 was the seventh year in a row that Lego had increased both its UK sales and profit.
The last time the business did not increase its UK sales and pre-tax profit was in 2017 when its turnover fell to £269.6m, from £286.4m in 2016, and its profit went from £11.4m to £10.7m.
During the year, Lego increased its UK headcount from 1,522 to 1,689.
Lego said it expects to achieve single-digit revenue growth in 2025.
It added: “The Lego group plans to continue to invest in initiatives which address evolving trends and are designed to deliver growth in the long-term.”
Lego did not issue a dividend to its parent company during the year after having also not done so in the prior 12 months.
It last paid a dividend when it handed out £20m in 2022.
Lego to move UK head office to London icon
In May, City PM reported that Lego is set to move its London headquarters from Farringdon to the iconic 76 Southbank in 2027.
The Danish company will occupy 192,000sqft across three-and-a-half floors in the riverside building, originally designed by famed brutalist architect Sir Denys Lasdun.
The redeveloped site, next to the National Theatre, has been modernised by Wolfe Asset Management and architects AHMM, and will house up to 1,500 staff.
Since opening its London hub in 2014, Lego has nearly tripled its UK workforce to 1,100 employees spanning product development, digital, creative, and commercial teams.