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Mega Brands profits soar on building toy sales

Canadian toy maker Mega Brands reports $1.6-million in second-quarter profit.


Mega Brands Inc. says second-quarter profit grew to $1.6-million (U.S.), or about five times larger than a year earlier, as its toy sales increased.

The Montreal-based toy maker says the earnings were equal to 10 cents per share, which is up from $310,000, or two cents per share a year earlier.

Net sales increased 13 per cent to $94.5-million compared to $83.9-million in the comparable three-month period ended June 30 last year.

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The higher demand was fueled by sales growth in the categories of "preschool" and "boys" in the toy sector of construction.

The company says sales in North America were up 18 per cent and "stable" in its international division with growth offset by unfavourable currency exchange rates.

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