Hornby looks to festive lift as revenues take a knock

0 The famous British model train maker is also the owner of the Scalextric and Corgi brands

Sales at model train maker Hornby have missed expectations.

Revenue was hit due to less discounting, an excess of stock and late deliveries in the period from 1 April to 31 August, the firm said.

However, Hornby added that its discontinuation of discountingimprovedprofitmargins and its “focus on frugality and doing more with less” has resulted in a smaller operating loss compared with last year.

The firm’s full-year performance will be dependent

on the critical Christmas trading period as the firm looks to “rebuild trust” and excess stock starts to clear in retail stockrooms.

Boss Lyndon Davies said: “Much has changed at Hornby over the last 12 months. The business is leaner and the improvement to our planning horizons are well advanced.”

The company has been through a choppy period, having earlier this year reported wider full-year losses that it blamed on poor decisions by former leadership.