Lego on track to remove fossil fuels from its bricks
Lego said that stronger profits have allowed it to invest to increase the amount of resin purchased from sustainable sources
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Your support makes all the difference.Lego has said it is replacing more fossil fuels used within its signature toy bricks with pricier renewable and recycled plastic as it benefits from strong consumer demand.
The Danish toymaker has said it is on track to remove fossil fuels from its bricks by 2032 after sealing contracts with producers to secure long-term supply of greener alternatives.
It told shareholders that 22% of resin used in its bricks over the first half of 2024 used material from renewable and recycled sources, up from 12% in 2023.
Lego said that stronger profits have allowed it to invest to increase the amount of resin purchased from sustainable sources.
On Wednesday, the company revealed that operating profits grew 26% to 8.1 billion Danish Krone (£920 million) over the half-year.
It came after revenues rose 13% to 31 billion DKK (£3.5 billion), driven by a 14% rise in consumer sales.
Lego said sales growth was driven by strong demand for its large and diverse portfolio, especially in the Americas and Europe.
Niels B Christiansen, chief executive of Lego, said: “We are very pleased with our strong performance in the first half.
“We delivered double-digit growth on the top- and bottom-line and made significant progress on increasing the amount of sustainable materials used in our products.
“Our portfolio continues to be relevant for all ages and interests, and this is driving significant demand across markets.
“We used our solid financial foundation to further increase spending on strategic initiatives which will support growth now and in the future to enable us to bring learning through play to even more children.”