Hornby: we’re back on track

STRUGGLING model train company Hornby has warned that recent sales have been lower than both its own prediction and last year’s totals.

But the firm, which traces its roots back to 1907, insisted a ‘focus on frugality’ could save it.

The collectibles manufacturer said it has already shrunk its operating loss by doing more with less.

Chief executive Lyndon Davies said: ‘Much has changed at Hornby over the last 12 months.’ The firm has cut unnecessary costs, and is better at thinking ahead.

Hornby had blamed its poor performance on an excess of stock from its old strategy, and delayed deliveries as orders were placed late. It said the Christmas trading period would be vital in determining how full-year results play out.