Lego posts boost in profit, sales as it raised some prices

COPENHAGEN, Denmark (AP) — Lego says profits increased by 5% in 2022 from a year earlier and sales roles even as it raised prices on higher-ticket toys. The Danish toy company said net profit rose to 13.8 billion kroner, or $2 billion, from 13.3 billion kroner. Sales were up 12%, while revenue grew 17%. CEO Niels B. Christiansen called 2022 “a milestone year” as the privately held company celebrated its 90th anniversary. With inflation growing, Christiansen says Lego raised prices on about a quarter of its products. He added that the increase was mainly on more expensive toys and that lower-cost products weren’t affected.