 GI Joe is still seeing action |
Hasbro, the world's second-biggest toy maker, has announced that rising demand and a drop in the dollar helped lift its profit 23% in the fourth quarter. The company said sales rose on new products such as Beyblades and Fureal Friends, as well as older classics including Transformers and Playskool.
Even so, the maker of GI Joe dolls, warned that the outlook for retailers was still "challenging".
Consumers, it said, are becoming more savvy and hunting for discounts.
Foreign gains
On the whole, analysts were pleased with Hasbro's performance and the company's shares rose slightly in New York.
Fourth-quarter profit was $76m (�41.2m; 60.4m euros) from $62.2m a year earlier, the company said. Sales added 13% to $1.1bn.
The battered dollar, which has dropped almost 50% against the euro during the past two years, had a significant impact on international sales.
Revenue from outside of the US rose by 22%to $477m in the fourth quarter. Without the currency effect, sales would have risen by a more modest 8%.
The company reiterated its annual sales forecast of between 3% and 5% and said it expects operating margin to climb by a minimum of 12% by the end of 2005.
One-Minute World News 
News services
E-mail this to a friend 
Printable version 