Home Business News Hornby posts another loss

Hornby posts another loss

by LLB Reporter
9th Apr 19 9:52 am

Hornby are expected to post another loss after the toymaker was hit by stock shortages.

The toymaker who are also behind Scalextric and Corgi brands, said revenue came in lower than last year’s £35.7m due to a shortage of stock.

Hornby said, “We have previously discussed the difficulties caused by technical specifications and purchase orders being sent to the factories late in 2017.”

However, the firm added underlying margins had improved, the annual loss is lower than last year’s £7.6m.

Hornby added, “As previously explained, we are rebuilding trust with our customers and suppliers.

“This takes time, but the initial signs are encouraging as we move into the first full year where all the new products and marketing strategies have been designed by the new management team.”

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