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Hobby firm Hornby turns first profit in almost a decade

Hobby firm Hornby turns first profit in almost a decade

Hornby has turned its first profit in almost a decade as sales steamed ahead during lockdown. The hobby firm, known for its model trains, made a

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Hornby has turned its first profit in almost a decade as sales steamed ahead during lockdown. 

The hobby firm, known for its model trains, made a profit of £17,000 in the six months to September, up from a loss of £2.5m over the same period last year. 

Hornby last made a first-half profit in 2012. 

Full steam ahead: Shares in Hornby, which owns Scalextric and Airfix, soared 30.9 per cent or 10.5p to 4.5p

Full steam ahead: Shares in Hornby, which owns Scalextric and Airfix, soared 30.9 per cent or 10.5p to 4.5p

Full steam ahead: Shares in Hornby, which owns Scalextric and Airfix, soared 30.9 per cent or 10.5p to 4.5p

Chief executive Lyndon Davies said shoppers sought comfort during the lockdown by indulging in the brands of their childhood. 

Shares in Hornby, which owns Scalextric and Airfix, soared 30.9 per cent or 10.5p to 4.5p. 

Davies said: ‘We could not have foreseen the problems which would be presented by the Covid-19 pandemic. 

‘We have observed hitherto successful and profitable companies worldwide crumbling under the pressure, with losses, closures and tumbling share values.

‘Yet we have not only weathered this shattering storm, our sales have increased by 33 per cent in the first half of 2020 compared to the prior year, moving Hornby back into profitability,’ he said.

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This post first appeared on Dailymail.co.uk

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