Works Management
31st March 2010Jitendra Gill
" Further to a good Christmas period and its resolution of long running supply chain issues in China, hobbies group Hornby today (31 March) reported that end of year results would be consistent with the positive expectations it expressed in January. "
"Dragon Heart" wrote
Interesting; wonder how their borrowings are fairing, and whether Corgi (in particular) & other recent acquisitions are proving to have been good investments?
John.
"John Turner" wrote
The briefing included the following comments:-
"Our Airfix, Humbrol and Corgi ranges also continue to show gains."
"Cash generation has been strong and we have reduced our debt levels significantly."
The actual results figures will be released in June so we shall see.
"Riddles" wrote
I should think so, all three companies were on the bones of their arses when Hormby took them over. If they can't get significant gains then there's something wrong.
Indeed.
John.
Hornby are investing though, Airfix are releasing a new set of British Infantry figures for example, the first new set from Airfix in a couple of decades. They are also selling off their older moulds (Hat now produces a lot of the older/odder Airfix stuff). Ok so its only 10-15 grand investment but it's not just asset stripping. I wish them well, given what they now own they could be significant in my retirement!
Regards
Mike
"And the directors gave a personal thanks to James May for giving the company three hours of free advertising" :)
I just wish that for once these financial journalists wouldn't use a railway based pun for their story titles though.
Fred X
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