Toy firm re­ports prof­its halved

Weekend Argus (Saturday Edition) - - LIFE -

LON­DON: Pre-tax profit at Hornby halved in the first six months, mainly due to for­eignex­change losses. The Bri­tish toy­maker said it was on tar­get for a 20 per­cent fall in an­nual earn­ings to £5 mil­lion (R61m). Chief ex­ec­u­tive Frank Martin said he ex­pected a bet­ter sec­ond half and a stronger Christ­mas than last year, with ful­lyear rev­enue up 10 per­cent.

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