GENERAL MERCHANDISE NEWS
Hornby issues second profit warning of 2012
24 April, 2012 | by Retail Bulletin
Hornby, the model railways specialist, has issued its second profit warning of the year after struggling against “muted” trading in its final quarter.
The company now expects its underlying pre-tax profits for the year ending 31 March to be “not less than £4.5 million” in what it described as “challenging” retail conditions in the UK.
Neil Johnson, Chairman of Hornby, commented: “The results for the year reflect the impact of a weak retail environment in the UK. However, the performance of our international business continues to improve and our London 2012 Games range of merchandise is proving to be increasingly popular.
“The Board is looking ahead with confidence.”
