The world's largest toymaker Mattel announced a rise in profits for the third quarter, with Barbie dolls and Cars 2 spin-offs star performing products.

Net income was 15 per cent higher than the same period last year, reaching $301bn (£263.2bn).

Worldwide net sales rose by nine per cent, while domestic US sales rose by six per cent.

Sales of Barbie dolls were 17 per cent up on the year, and the Hot Wheels range of Cars 2 toys saw a rise of six per cent in sales.

The company announced a fourth quarter dividend of $0.23 per share and announced it would increase its share buyback programme by an extra $500m.