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from :http://www.lego.com/info/pressspecific.asp?PressReleaseId=171&Year=2001
LEGO Company announces poor performance in year 2000
Billund, Denmark -- The LEGO Company today announces it ran a deficit of about
DKK 1 billion in year 2000. "Financially, the past year was extremely
disappointing," says Poul Plougmann, Executive Vice President and COO of the
LEGO Company. "But we know what went wrong and we know what to do about it."
The year 2000 was a very difficult year for the entire toy industry. But despite
many strengths and high points, the LEGO Company was affected "because we lost
focus," Plougmann said.
"We will refocus on our core business, which is materials for open-ended play
for children," he said. "That is what the brand is about -- stimulating
imagination, creativity and learning -- and it is what children and parents
expect from us. We will continue to expand within this area, applying a growth
strategy with a huge potential and lower risk."
Plougmann said all indicators point to a profitable year 2001 for the privately
owned LEGO Company. "The LEGO brand is as strong as ever," he said.
For more information, please contact:
Eva Lykkegaard
LEGO Company
Phone: +45 79 50 74 24
This page was updated on the 1st March 2001
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