Hornby’s losses widen but stock is on track

Model train maker Hornby has posted widened losses and held off from giving a full-year outlook, but said it is well-stocked for the crucial Christmas season as supply chain woes ease.

The group posted a pre-tax loss of £2.9m for the six months to September 30 in a “difficult” financial year so far, with the result comparing with losses of £700,000 a year ago.

Last Christmas, Hornby was hit by stock shortages due to shipment delays amid widespread supply chain difficulties.

But it said it is now in a “stronger position”, with shipments from its overseas factories 40% ahead of last year, while it has also stocked up early to ensure it is not left short.