Hornby cautious on Christmas trading
Model railways group Hornby kept profits in line with last year today after a “creditable” performance in the face of difficult market conditions.
The group, which also sells Scalextric slot car racing sets and owns operations in Spain and Italy, said profits of £2.5m (€3.7m) in the six months to September 30 were just shy of the £2.6m (€3.85m) seen a year earlier.
While one broker had been looking for a figure of £2.8m (€4.16m), the company said it made good progress with sales of model trains remaining robust in the UK and new locomotives doing well in the run-up to Christmas.
Chairman Neil Johnson warned of short-term pressures on the business: “Market indications for Christmas trading in the UK are not encouraging, and I must therefore sound a cautionary note in respect of trading in the second half.”
