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Model train maker steams ahead as sales surge

by LLB Finance Reporter
29th Oct 20 12:24 pm

Model railway train maker Hornby has seen their sales surge by 33% in the six months to September, as they had benefited by families spending more time with each other during the lockdown.

Hornby also makes Scalextrix and Corgi cars saw more people taking up hobbies during the lockdown.

Lyndon Davies the chief executive hailed the results as a “time of adversity.”

Davies said, “We have observed hitherto successful and profitable companies worldwide crumbling under the pressure [of the pandemic], with losses, closures and tumbling share values.

“Yet we have not only weathered this shattering storm, our sales have increased by 33% in the first half of 2020, moving Hornby back into profitability.”

Sales soared to £21.1m in the six months to the end of September, compared to £15.9m the year before, with a net profit of £200,000 compared to a £2.5m loss in 2019.

“Past experience tells us that during periods of crisis people often turn inwards, finding comfort from things they know and love,” said Davies.

 

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