LEGO’s annual results will be announced tomorrow

Strap yourself in: the LEGO Group is about to announce its latest round of annual results. In laymen’s terms, that means we’ll get a look at just how well the company’s been doing for the past year.

It’s been a tricky couple of years for the Danish giants. The exponential growth enjoyed in the wake of The LEGO Movie faltered in 2017, leading to an unexpected dip across the board. However, last year’s financial report showed a return to growth, with a 4% uptick in revenue.

“We set out with one aim in 2018, to stabilise the business. We are pleased to have achieved this, and to have delivered modest top and bottom-line growth,” LEGO Group CEO Niels B Christiansen said at the time.

Back in September, the company released its first half results for 2019, giving some indication as to what we can expect from tomorrow’s announcement. While sales continued to increase, overall profits plummeted by 16%.

If you’re currently employed by the LEGO Group, you might be hearing alarm bells ringing. After all, the company’s response to its 2017 drop was to cut 8% of its workforce. This latest downward shift, though, is apparently due to increased investment – and therefore a conscious choice to stimulate long-term growth.

Hopefully that means tomorrow’s results will look a little more optimistic all-round. You can find out for yourself by tuning into the livestream over at LEGO.com, or checking back with Brick Fanatics for the lowdown.

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