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Hornby posts outstanding results - ToyNews

Hornby posts outstanding results

Scalextric and model train manufacturer valued at £93 million.
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Hornby has almost doubled its first-half pre-tax profit, thanks to the resurgence in the popularity of Formula One racing.

The firm has reported profits of £2.68 million in the six months to the end of September, compared to £1.8 million for the same period last year.

Sales have increased by almost 40 per cent to £24.6 million pounds. Scalextric sales alone achieved an increase of£1.7 million.

The firm believes its boost in sales is linked to its licensing deal with McLaren, which features F1 star Lewis Hamilton.

Finance Director John Stansfield said: "Everyone likes to have one of their own countrymen doing well and that's given it (F1) a much sharper profile."

It expects its Vodafone McLaren Mercedes Team F1 Scalextric set to be a bestseller at Christmas while its total full-year sales will total between £56 million and £60 million.

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