08 June 2012
London 2012 and Star Wars products expected to boost sales ...
Hornby has reported a rise in revenue from £63.3 million to £64.4m in 2011 although group pre-tax profits fell to £3.9m from £4.1m. However, chief executve Frank Martin said that: "Despite the backdrop of a challenging market, Hornby is making encouraging progress".
For the next financial year, Horny - which operates numerous brands, including Corgi, Scaletrix, Humbrol and Airfix - has strong hopes for several of its new products, including a Star Wars-themed Scalextric and London 2012 bus and taxi items. It's also hopeful that a selection of entry level products ranging from £2 to £9.99, such as key rings and badges, will boost sales.
"We are pleased that sales of our London 2012 merchandise are gathering momentum. We expect this unique license opportunity to contribute positively to profits in the short term and, through the increased distribution that we gain as a result of our involvement with London 2012, to provide an ongoing legacy benefit in substantially increasing our presence in mass market retail outlets."
Outside of the UK sales in Europe rose 21% as demand for model railways increased, while revenues in North America sneaked up $200,000 to $4.4m.