Hornby back on track as 'root and branch' restructure bears fruit - ToyNews

Hornby back on track as 'root and branch' restructure bears fruit

Hornby cut back its European operation and reduced the number of product lines after its losses soared to £13.5 million in 2016.
Author:
Publish date:
Social count:
0
0 0hornby.png

Model train maker Hornby has said that its plan to return the firm to sustainable profit is back on track.

The turnaround for the firm follows a tough last couple of months throughout which Hornby implemented a ‘root and branch’ restructuring after a new software system sent it into the red.

Hornby cut back its European operation and reduced the number of product lines after its losses soared to £13.5 million in 2016.

Today, the London group told investors that ‘trading has since been in line with its expectations.’

The firm will now focus on its most profitable and cash generative product lines and market.

A representative from Hornby said: “Since the recent capital raising that was completed in July, the group is now implementing the new business plan to refocus the business in existing profitable and cash generative products, channel and geographies, while also reducing the cost base of the business to reflect projected revenue sources and a simplified overall business model.”

Related

Featured Jobs

Gameplan Job Logo 620 x 349

Sales Director UK

Our client is a well established privately owned UK toy manufacturer which has won numerous awards for outstandingly innovative toys, gifts and gadgets. A correspondingly outstanding and talented UK Sales Director is to be recruited who has the potential, the will, the drive and the ambition to advance to a higher position within a few years.

Vivid Job Logo 620 x 349

Digital Marketing Executive - Toys & Games

Vivid is Britain’s biggest toy company and the 20 largest in the world. With offices across the globe, they sell an amazing portfolio of toys and games to over 60 countries. Vivid is best known for its association with blockbuster brands and is very excited about future opportunities around the world.