The City roundup video: How Disney's Frozen has boosted business worldwide

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It was clear what America’s children were doing over Christmas – ripping open toys bought from Hasbro.

The US’ second largest toymaker, which makes everything from Transformers to Marvel toys, posted a 31% rise in fourth quarter profits to $169 million as the US flocked to snap up its Frozen figurine. The impact of the icy movie on the worldwide economy has been phenomenal.

Hasbro is not the only business to have enjoyed a bounce off the back of the Disney hit. Supermarket supplier Finsbury Foods has already said its Frozen branded cakes helped warm up its sales over Christmas and even got boss John Duffy humming its hits.

For Disney itself, Frozen has melted investors hearts as it drove both toy sales and DVDs – it was the biggest selling release of 2014, outgunning James Bond’s Skyfall. The tale, inspired by Hans Christian Andersen’s The Snow Queen, helped Disney’s shares  rise 4% on strong earnings up 20% last week.

Hasbro bought back a tranche of shares today and, with the boost that families’ favourite cartoon, they’re unlikely to Let It Go.