Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Hornby Plc    HRN   GB00B01CZ652

Delayed Quote. Delayed  - 10/24 05:35:27 pm
32 GBp   +3.23%
10/19 HORNBY : Appointment of Finance Director
10/17 HORNBY : Appoints David Mulligan As Permanent Finance Director
10/03 DIRECTOR DEALIN : Hornby CEO Cooke Buys First Shares
News SummaryMost relevantAll newsSector news 

Hornby Plc : - Interim Management Statement

share with twitter share with LinkedIn share with facebook
share via e-mail
02/01/2013 | 07:40am CEST


Hornby Plc ("Hornby" or "the Company")

Interim Management Statement and Board Changes

Hornby Plc, the international models and collectibles group, is today updating shareholders on trading for the period from 1 October 2012 to date, which includes the important Christmas and January period.

Business Performance

Whilst the issues highlighted in the Interim Report have continued to impact the business, the actions taken to mitigate their effects have also continued to yield success. The supplier causing disruption to our model railway supplies is now expected to contribute less than 15% of total production in 2013. This is from a historical peak of 75% and 35% earlier in 2012. Equally, the remaining London 2012 merchandise has been discounted and the majority has now been sold. Despite general weakness in demand, sales of the Corgi and Airfix brands have held up well and shown positive year on year growth.

Although Group sales for the financial year to date remain below the same period last year, they are consistent with our expectations at the time of the Interim Report. The Company therefore continues to expect that underlying pre-tax profits in respect of the year to 31 March 2013 will be in line with current market expectations.

Net debt as at 31 December 2012 was £3.0 million, an improvement of £5.5 million from last year (30 September 2012 £6.5 million, 31 December 2011 £8.5 million). The Group continues to operate within its banking covenants, which were revised to provide more operational flexibility in December 2012. 


The Board remains confident in the Group's strategy. We recognise that trading conditions in the UK and the rest of Europe continue to be challenging for the foreseeable future. This may constrain sales of our higher ticket Hornby and Scalextric items. However particularly in continental Europe, demand for our model railway products continues to be strong and improvements in the supply chain should result in improved sales performance. Progress in the last year in the Corgi and Airfix brands has been encouraging. We have also continued to take steps to broaden our portfolio of products, resulting in lower average price points.

At the London Toy Fair last week, we showcased our major product introductions for 2013. Our new category initiatives for 2013 include:

·     The launch of the Quickbuild concept across both Airfix and Scalextric brands. This new development leverages our recognized skills in authentic model making and slot racing and also encourages creative play. We were delighted that the Scalextric Quickbuild Demolition Derby set was awarded the Editor's Choice Award as the best new Toy at the London Toy Fair. This was decided by more than 300 broadcast, national, consumer and trade journalists who highlighted their favourite toys from the show.

·     Hornby E- Link - a revolutionary way to link a model railway layout with a home computer.

·     The launch of a Railmaster app, allowing the user to control a complex model railway layout via iPad and Android tablets and mobile phones.

·     Further extension of our Corgi Toys range, including a recent extension of our successful Eddie Stobart license to cover pocket money collectibles.

·     The launch of a new range of collectible Corgi cars based on Formula 1 teams. The first products to launch will feature the Lotus and McLaren teams.

Board Changes

It has been previously announced that the current Chairman, Neil Johnson is to retire from the Board on 1 February 2013. On that date Roger Canham who was appointed to the Board on 6 November 2012 will succeed Neil as Chairman. In addition, Nick Stone will be appointed to the Board on that date as Group Finance Director in succession to Andrew Morris who will leave the Group for his new role during February.

Hornby will announce its preliminary results for the year ended 31 March 2013 in early June.

Incoming Chairman, Roger Canham commented:

'I would like to thank Neil for his contribution to the business and look forward to consolidating the transformation that the business has undergone during his tenure.  I am confident that as I take over the chair, we are on the way to dealing with the headwinds highlighted in previous trading statements, not least the supply chain challenges. I visited our suppliers in China early in January and believe that the strategy being pursued by the business will result in a much more robust product pipeline as 2013 progresses. Despite weak consumer spending in our traditional markets, the continuing innovation amongst the core brands, such as the Quickbuild launch and Railmaster app, will place Hornby in a strong position compared to its peers in maintaining its relevance to the changing market dynamics.'

- ends -

Date: 30 January 2013

For further information contact:

Hornby Plc     

City Profile

Frank Martin, Chief Executive

Simon Courtenay/Abigail Genis

Nick Stone, Group Finance Director (Designate)


This information is provided by RNS
The company news service from the London Stock Exchange

RNS news service provided by Hemscott Group Limited.

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on HORNBY PLC
10/19 HORNBY : Appointment of Finance Director
10/17 HORNBY : Appoints David Mulligan As Permanent Finance Director
10/03 DIRECTOR DEALINGS : Hornby CEO Cooke Buys First Shares
09/11 HORNBY : AGM Trading Statement
09/09 HORNBY : Trading In Line As It Restructures Business
08/18 HORNBY : Annual Report and Accounts and Notice of AGM
08/05 HORNBY : *numis resumes hornby with 'buy'; price target 38 pence
07/10 HORNBY : Result of General Meeting, Placing and Open Offer
07/08 HORNBY : Shareholders Approve Fundraising To Back Restructuring (ALLISS)
06/22 EXTRA : Hornby Looks To Reassemble Winning Business Model After Losses
More news
Sector news : Toys & Juvenile Products - NEC
10/24DJAsian Shares Down; Japan Stocks Take Hit From Weak Trade Data
10/23DJVideogame Voice Actors Go on Strike
10/21DJVideogame Voice Actors Go on Strike
10/21DJAsian Shares Lower; Hong Kong Markets Shut Due to Typhoon
10/19DJKabam Weighs Multiple Offers for Canada Studio
More sector news : Toys & Juvenile Products - NEC
Financials ( GBP)
Sales 2017 44,1 M
EBIT 2017 -6,30 M
Net income 2017 -
Debt 2017 3,20 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 0,67x
EV / Sales 2018 0,63x
Capitalization 26,2 M
More Financials
Duration : Period :
Hornby Plc Technical Analysis Chart | HRN | GB00B01CZ652 | 4-Traders
Full-screen chart
Income Statement Evolution
More Financials
Mean consensus BUY
Number of Analysts 1
Average target price 0,38  GBP
Spread / Average Target 23%
Consensus details
Stephen Andrew Cooke Chief Executive Officer
Roger T. Canham Executive Chairman
David Kevin Mulligan Finance Director
David Alexander Robertson Adams Senior Independent Non-Executive Director
Charles Jerome Caminada Independent Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
HORNBY PLC-66.30%32
MATTEL, INC.20.54%11 155
HASBRO, INC.22.94%10 385
More Results