Lego, the world's largest toymaker, said today it had generated the highest revenue in its 85-year history despite a soft European market.
Revenue rose by 6.0 per cent to DKK 37.9bn (£4.4bn), rising by 5.5 per cent on a constant currency basis.
Operating profit for 2016 was DKK12.4bn compared with DKK 12.2bn in 2015.
Cash flow from operating activities fell to DKK 9.1bn from DKK10.6bn.
The firm launched 355 new products over the year
Why it's interesting
And Padda had some pretty lofty ambitions, so much so Santa Claus might feel his toymaking role is under pressure:
Our long-term ambition is to provide the opportunity for millions more children around the world to benefit from Lego play experiences, especially in emerging markets.
Padda continued: "In 2016, we invested significantly in the talent and infrastructure to enable this sustainable, long-term growth."
Lego labelled the European market as "mature", but Padda said he was encouraged with the group's results in the area. "[We] continue to see strong potential in China, which represents an attractive growth opportunity," he said.
What the company said
We are satisfied with our performance in 2016. We had a strong first half of the year, while consumer sales growth in the second half was at more sustainable levels than previous years.
Innovation is critical to our success and each year around 60 per cent of our portfolio is new products.