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Hornby turnover up 11 per cent - ToyNews

Hornby turnover up 11 per cent

Half-year results reveal 50 per cent growth in Europe; Momentum expected to continue with London 2012 lines.
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Hornby’s like-for-like sales grew 11 per cent in the six months to September 30th. Revenues were £28.3 million compared to £25.5 million in the same period last year, with operating profit at £1.3 million compared to £858,000 in 2010.

Hornby said that its European business grew by 50 per cent and was 'particularly pleased' with its progress in Germany, Europe’s largest market for modern railway. UK sales improved four per cent.

Reflecting on the figures, Frank Martin, chief executive of Hornby said: “We are delighted with the performance of the Group in the first half. Our sales in the UK have continued to be resilient, which demonstrates the enduring appeal of our brands and the strength of the hobbyist market.

“Our European business is performing strongly. It is clear that there is a significant opportunity to build the scale of our model railway business in Europe.”

The firm is expecting a good return on its licensed London 2012 ranges after improving its Chinese supply line and with a Christmas media campaign in place.

“Hornby is well positioned ahead of the important Christmas period and 2012, the year of the London 2012 Games,” said Martin.

“Our Olympic and Paralympic ranges are selling well and we have increased our distribution network considerably in the UK.”

Hornby also set up new distribution deals for its London 2012 lines in Olympics-loving China.

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