Hornby sees losses widen but reassures on stock
Model train maker Hornby has posted widened losses and held off from giving a fullyear outlook, but said it is wellstocked for the crucial Christmas season as supply chain woes ease.
The group posted a pre-tax loss of £2.9 million 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 per cent ahead of last year, while it has also stocked up early to ensure it is not left short.
However, the group held back from giving an outlook for the full year, with the outcome "hard to tell" in light of pressures on consumer spending during the allimportant Christmas period amid the cost-of-living crisis.