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Financial results 2011 - 2012

 

 

HORNBY BROADENS PRODUCT RANGES AND CORE MODEL RAILWAY SALES INCREASE

 

 

Hornby Plc (“Hornby”), the international hobby products group, has today announced its results for the year ended 31 March 2012. Hornby owns a number of model railway and slot car brands, Airfix models, Humbrol paints and Corgi die cast models.

 

  • Turnover for the year up 1.7% to £64.4 million (2011: £63.4 million)
  • Underlying profit before tax* of £4.5 million (2011: £4.4 million)
  • Reported profit before tax of £4.0 million (2011: £4.1 million)
  • Statutory basic earnings per share 8.19p (2011: 7.50p)
  • Total dividend of 3.7p per share (2011: 5.0p)
  • Sales of London 2012 merchandise growing strongly
  • New license win with Moshi Monsters for a range of pin badges and die-cast vehicles
  • Star Wars Scalextric launched this year
  • New products associated with ‘Olly the Little White Van’ and Corgi ‘Toys’ developed
  • Net debt £6.3 million (2011: £6.1 million)

* Stated before amortisation of intangibles and net foreign exchange adjustments on intercompany loans.

 

 

Frank Martin, Chief Executive of Hornby, commented,

 

“ Despite the backdrop of a challenging market, Hornby is making encouraging progress. Our ability to broaden our product and distribution base will enable us to mitigate to some extent any short term weakness in our traditional hobby sectors. 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."

“ In order to benefit from this increased presence following London 2012 we have developed a number of new ranges with entry-level price points ranging from £2 to £9.99. The first of these ranges is a series of collectable pin-badges based on the Moshi Monsters license."

“There is no doubt that there will continue to be pressure on consumer confidence for some time to come. However we continue to innovate and to seek new commercial opportunities in order to counter the effects of the macro-economic climate in which we are operating."