Hornby’s shares fell Wednesday after the group revealed a trading statement for the Christmas period.
Group sales in the third quarter were compared to the same period a year ago, due to a highly popular product range and an increasing global demand as consumers spend more time at home.
The start date to 202 has been slowed down due to courier companies suspending European-bound collections due to Brexit’s backlog, but shipments to Europe will begin soon.
Direct sales increased 133% year-on-year, with net cash at the end of December 2020 being £3.8 million compared to net cash at the end of September 2020.
Commenting on the range of new toys for 2021, the group said: “We usually attend several toy fairs during January, but these have been cancelled due to COVID restrictions, so we’re releasing them to trades and public through various social media platforms. We have previewed the latest range of announcements digitally. The feedback was encouraging and we were supported by a level of interest.”
Hornby expects to close the year with 15-20% sales from the previous year.
Chief Executive Lyndon Davis commented: But it’s hard not to want to spread a little “good news” among all the bad points. Hornby’s conversion continues to accelerate. This is not time for braking, it needs to be accelerated upward through the gear. ”
Hornby’s shares are trading -4.24% at 63,20 (1413GMT).
