Hornby reveals Star Wars deal as it posts FY results - ToyNews

Hornby reveals Star Wars deal as it posts FY results

Turnover for year ending March 31st is £63.4m; worldwide licence secured for Star Wars Scalextric products.
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Hornby has bagged the worldwide licence for a range of Star Wars Scalextric products, while it also seeing a significant increase in sales for its London 2012 merchandise.

The news was revealed in the firm's results for the year ending March 31st 2011.

Turnover for the year was down slightly by one per cent to £63.4 million (2010: £63.9m), while net debt stood at £6.1 million (2010: £3.2m).

The firm reported profit before tax of £4.1 million (2010: £5.2m).

Chief executive of Hornby, Frank Martin, said that the business was in great shape and was in an excellent position going forward.

"We are delighted that we have secured the worldwide licence for a range of Star Wars Scalextric products," he commented. "As the films are converted into 3D format by Lucasfilm over the next few years, we anticipate that we will get an encouraging reaction to our new range of speeder bikes and X-wing fighters.

"We also have high hopes for our products associated with the new Disney/Pixar movie, Cars 2, and have also secured the exclusive worldwide master toy licence rights to a new children's animated TV series, Olly the Little White Van which will soon be launched on ITV.

"Our range of London 2012 merchandise is now gathering real momentum. As we approach a year to go to the games, we are seeing a significant increase in sales. We are also benefiting from the increased distribution coverage.

"The team is very pleased that our supply chain is now delivering. Our major suppliers are working well and we are confident that they will support our growth ambitions in the UK and our overseas markets."

Martin continued: "Looking ahead, Hornby is in an excellent position. This is a very exciting time for us with the imminent launch of new products. The new licence wins have presented us with an outstanding opportunity to appeal to a new generation of hobbyists and represents a major opportunity for us to grow our business and deliver significant value for our shareholders."

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