Mega Brands profits jump to US$1.6 million as sales rise 13 per cent - InfoNews

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Mega Brands profits jump to US$1.6 million as sales rise 13 per cent

The corporate logo of Mega Brands Inc. (TSX:MB) is shown. THE CANADIAN PRESS/HO
July 27, 2012 - 11:31 AM

MONTREAL - Mega Brands (TSX:MB) says second-quarter profit grew to US$1.6 million, or about five times larger than a year earlier, as its toy sales increased.

The Montreal-based toymaker 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 comparable three month period ended June 30 last year.

The higher demand was fueled by sales growth in the categories "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.

News from © The Canadian Press, 2012
The Canadian Press

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