Hornby banks on James Bond Scalextric sets to get its profits back on track
James Bond and Christmas-themed toy cars and train sets are flying off the shelves this winter, Hornby said.
The model train maker expects a £49.99 Scalextric James Bond 007 racing set and a £79.99 Santa train set to be popular as they set course for a ‘positive’ second half, with a ‘strong’ order book.
The Margate firm has planned stronger seasonal promotions than in previous years, but added that ‘like everyone else, we see the Christmas trade boom coming later’.
Key period: Hornby expects a £49.99 Scalextric James Bond set and a £79.99 Santa train set to be popular this Christmas
Turnover rose 6 per cent to £23.8m for the six months ending September 30, compared with £22.4m in the same half in 2022 – but was offset by a dismal £5.1m loss.
CEO Olly Raeburn emphasized that there are signs his turnaround plan is paying off.
“In a year of structural and operational change, we are beginning to see critical improvements in many areas,” he said.
He blamed high overhead costs, including wages and costs associated with changes in senior staff.
Shares were flat at 16p.