Announced this morning:
David
Announced this morning:
David
gwr4090 said the following on 10/11/2006 08:06:
That's good news. £2.6m sounds like a snip for such an "iconic brand". There are lottery wins higher than that!
Perhaps not so good when you find that Hornby only made £2.4 million profit.
Regards Jeff
Ooops, sorry that should be £1.4M.
Jeff
It's sobering when you think that is probably what Microsoft waste in a few hours ;) A lot of our recreational activities are just not profitable when you look at the bigger picture :(
Jeff said the following on 10/11/2006 09:16:
That was in just six months, wasn't it? It was down a lump compared to the same time last year, but even £1.4m every six months doesn't take long to pay for Airfix.
compared to
Also, as Hornby pointed out, it was over a period that was not good for (any male dominated) indoor hobby.
"Paul Boyd" wrote
It does if you're still paying back money borrowed to buy the Rivarossi Group and Electrotren.
John.
I like the expression "not conducive to indoor hobby activities".
I woner what else could have been affecte?
John Turner said the following on 10/11/2006 09:45:
I had assumed, perhaps wrongly, that the profits quoted would have taken that into account. To me, profit is what's left after paying all the loan repayments.
Seems to depend if it's working profit or real profit. The money actually made against sales, or as you say, after other 'adjustments'. Accountants do see to be good at creative book keeping :)
"Jerry" wrote
We had a remarkably good, in fact a record summer for sales.
John.
ader.greatnowhere.com...
So, even if that's the full year figure and even if interest rates reached 10% that =A31.4M would still fund borrowing of =A314M. In reality there are dividends to pay, etc, etc, but I still don't see why you think the Airfix purchase "not so good".
It gives them two very well known brands and adds =A36M to Hornbys sales. On the whole, I would say it's an excellent fit, complementing their existing business.
MBQ
.>So, even if that's the full year figure and even if interest rates
It depends very much on what they have managed to get out of the French with respect to the moulds. It is a lot to pay for a name!!
Regards Jeff
Lester,
Depends whether you're trying to impress shareholders, or trying to keep your corporation tax down :-)
Jim.
They have probably bought that company too, both the French company and Humbrol had gone bust, IIRC it was the problem with the French company that finally sent Humbrol into administration.
" That's good news. =A32.6m sounds like a snip for such an "iconic brand". There are lottery wins higher than that! "
Perhaps not so good when you find that Hornby only made =A32.4 million profit
What I think you may be forgetting is the Tax Man !
Any 'losses' after buying the three parts of the Humbrol group can be set against tax, buying the trade names of 'Airfix' and 'Humbrol Paints' must have accounted for a fair proportion of the sale value.
The big questions are " who else would have taken these parts of the group off the administrator AND have Hornby the right experience and spare cash to develop the brands ? "
Or about 30 seconds of what is being spent in Iraq.
kevin
" That's good news. £2.6m sounds like a snip for such an "iconic brand". There are lottery wins higher than that! "
Perhaps not so good when you find that Hornby only made £2.4 million profit
What I think you may be forgetting is the Tax Man !
Any 'losses' after buying the three parts of the Humbrol group can be set against tax, buying the trade names of 'Airfix' and 'Humbrol Paints' must have accounted for a fair proportion of the sale value.
The big questions are " who else would have taken these parts of the group off the administrator AND have Hornby the right experience and spare cash to develop the brands ? "
Administrators aren't the least bit concerned who acquires a company as long as they get the maximum amount of cash for it.
(kim)
Surely what /really/ matters is whether or not it means I might still get a model lifeboat...
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