Hasbro surprises thanks to Jurassic World and Play-Doh

http://www.bbc.co.uk/news/business-33604274

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Toy maker Hasbro has posted better-than-expected results, helped by Jurassic World-themed dinosaur toys and Play-Doh.

The company credited film tie-ups such as Jurassic World as well as Marvel and Star Wars-linked products and strong Play-Doh sales for the 25% jump in net profit to $41.8m in the second quarter.

The performance helped offset a 3.8% fall in revenue, which it blamed on a strong US dollar.

Hasbro shares closed 6% higher.

The rise continues a strong run for the shares, which have risen more than 50% this year.

The company is valued at almost $10bn (£6.4bn), meaning Hasbro is worth more than rival Mattel's $8.1bn market capitalisation.

Hasbro's Star Wars toys are also expected to be boosted by the release of Star Wars: Episode VII - The Force Awakens later this year.

Piper Jaffray analyst Stephanie Wissink said the new Star Wars range, along with recent deal with Walt Disney to make toys based on its princess characters from next year, meant that Hasbro sales should overtake Mattel's in five years.

Hasbro said it was well positioned for the rest of the year.

Deborah Thomas, chief financial officer, said: "Our second quarter results came with numerous challenges, including a significant negative foreign exchange impact and difficult year-over-year comparisons in several brands. Even with these challenges, we delivered a strong second quarter and a good first half of 2015."