Formula One revs up Hornby, and Toy Story lift is on the way
Formula One fans snapping up Scalextric sets to race world champion Jenson Button against former titleholder Lewis Hamilton helped lift sales for toymaker Hornby in the run-up to Christmas.
The company today said demand for its brands from stores jumped in December, as it predicted a big boost to sales this summer from its tie-up with Toy Story 3.
"We are expecting Toy Story sets to be the best-sellers for both Hornby and Scalextric in the coming year — the signs from retailers are really good," said chief executive Frank Martin.
He added that the company's supply problems were finally resolved. Hornby had struggled to get stock in the last two years after its main Chinese supplier Sanda Kan ran into financial difficulties. Sanda Kan has now been bought and Hornby has increased its number of suppliers.
Hornby, whose other brands include Airfix and Corgi, was also helped by strong sales of its first product for the Olympics, a model double-decker bus.
The company predicts that sales and profits for the year to the end of March will be "significantly ahead" of the previous year, and said it is on track to meet market forecasts.
The City has pencilled in pre-tax profits of £5 million on sales of £65.5 million.
