Hornby scraps dividend, suffers supply chain problems

Revenues reached £27 million for the six months ending September 30th.
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Hornby Hobbies Ltd has scrapped its dividend - payments made to shareholders - after posting disappointing financial results. 

For the six months ending September 30th, revenues reached £27 million, down £1.3 million year-on-year, reports Digital Look via Yahoo

Hornby recorded a pre-tax loss of £0.54 million compared with a pre-tax profit of £0.96m in the first half of 2011. Comparatively, last year it hit a profit of £3.9 million.

It blamed the poor performance on 'supply chain disruption' at one of its largest suppliers in China. 

Hornby also reportedly cited disappointing sales of London 2012 toy merchandise.

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