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25/09/2012
Hornby Fail To Profit From Olympic Merchandise
Hornby, owner of the Scalextric and Corgi brands, has said that due to disappointing sales of London 2012 merchandise and supply problems, it will not make a profit this year.
Following lower-than-expected sales of Olympic products retailers cancelled repeat orders.
It is also expects substantial disruption to production at one of its major suppliers in China.
Despite profits of £4.5m last year, the model maker now only expects to break even in the 2012-13 financial year.
Hornby gained the licence to sell a range of London 2012 merchandising, including replica mascots and a Scalextric velodrome.
(H)
Following lower-than-expected sales of Olympic products retailers cancelled repeat orders.
It is also expects substantial disruption to production at one of its major suppliers in China.
Despite profits of £4.5m last year, the model maker now only expects to break even in the 2012-13 financial year.
Hornby gained the licence to sell a range of London 2012 merchandising, including replica mascots and a Scalextric velodrome.
(H)
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