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HORNBY Going Cheap And About To Expand Into Europe. (HRN)
goldfinger
- 03 Jun 2005 11:55
Been a big follower of this company over the last few years they have excelent management and they have done very well but due to the nature of the recent markets they have fallen back to very cheap levels and now are worth a buy in my opinion. I know we have 3 historical threads on this one but they havent been used for many months. I like this report on the company today on the results its well worth a read.
Hemscott.
Hornby - Friday 3rd June 2005
It's all systems go at Hornby and another set of excellent results leaves us wondering why the shares have tailed off over the past six months. The UK market offers plenty of scope despite the consumer downturn and the model trains and racing sets maker is ready to cash in on great potential abroad, says Rodney Hobson.
--------------------------------------------------------------------------------
Hornby told investors at the end of January that Christmas trading, which is obviously a key time of year, had gone particularly well so it is no surprise that in the year to March turnover was up from 39m to 45m and pre-tax profits rose from 36.5m to 7.2m.
In line with the commendable policy of paying half of earnings per share out in dividends, the final divi of 5p takes the total to 7p, up from 6p (allowing for last year's five-for-one share split). Earnings per share rose from 12.2p to 14.78p excluding heavy amortisation of goodwill on the Lima acquisition in Italy, which took the figure down to 13.88p.
Chief executive Frank Martin stressed today that he remained confident despite the slowdown in consumer spending which, he claimed, was having less impact on the hobby market than on other sectors.
He pointed out that there had been solid growth at home and abroad before taking into account additional sales from acquisitions.
Martin said: 'Trading in our core UK market has remained robust during the year. Despite nervousness in the retail sector, our products have retained their popularity and sales have remained good. We are conscious that some retailers are reporting the impact of wider economic pressures but the hobby-based characteristics of our products lend resilience in such times and market feedback remains encouraging.'
During the year Hornby has pressed on with developing its network of concessions in other stores to 121 outlets. Sales in the concessions grew by 34% in the year and represented 15% of total UK sales. This does mean that Hornby is not heavily reliant on a few dominant retailers.
In any case, while Martin will not neglect the home market his eyes are on the acquisitions in Spain and Italy where enthusiasm for trains and racing cars is no less than here.
Hornby has exclusive rights to use images of Fernando Alonso, the Spanish Formula 1 star, and Sete Gibernau, well known to motorbike enthusiasts, on its Electrotren slot racing packaging in Spain, which apparently has more slot racing enthusiasts for size of population than any other country in the world.
In Italy, Hornby bought assets of model maker Lima from the liquidators and has shipped production out to China, where Hornby and Scalextric models are already produced. The first new Lima models will be in the shops in time for Christmas and more will be released in 2006.
It does mean that Lima will be incurring overheads before the sales revenue starts to flow. Although action has been taken to reduce costs by restructuring the Italian operation and holding down the headcount, interim profits will be depressed. Martin said, though, that profits for the year as a whole were unlikely to be affected.
The shares peaked at 280p late last year after a terrific run lasting nearly four years. We believed they were worth hanging on to at 241p after the January trading statement and we still think that was reasonable advice at the time, although they subsequently slipped further back to around 200p, where there seems to be solid support.
The recent weakness is an opportunity to buy in. The shares added 3.5p to 216p this morning.ENDS.
If you look at the figures you will see that the company is on a very low rating of P/E 14.6 which is very cheap for this company. At present I do not have a forward P/E but will try to get one.
Well worth a dabble.
Please DYOR.
cheers GF.
Hemscott.
Hornby - Friday 3rd June 2005
It's all systems go at Hornby and another set of excellent results leaves us wondering why the shares have tailed off over the past six months. The UK market offers plenty of scope despite the consumer downturn and the model trains and racing sets maker is ready to cash in on great potential abroad, says Rodney Hobson.
--------------------------------------------------------------------------------
Hornby told investors at the end of January that Christmas trading, which is obviously a key time of year, had gone particularly well so it is no surprise that in the year to March turnover was up from 39m to 45m and pre-tax profits rose from 36.5m to 7.2m.
In line with the commendable policy of paying half of earnings per share out in dividends, the final divi of 5p takes the total to 7p, up from 6p (allowing for last year's five-for-one share split). Earnings per share rose from 12.2p to 14.78p excluding heavy amortisation of goodwill on the Lima acquisition in Italy, which took the figure down to 13.88p.
Chief executive Frank Martin stressed today that he remained confident despite the slowdown in consumer spending which, he claimed, was having less impact on the hobby market than on other sectors.
He pointed out that there had been solid growth at home and abroad before taking into account additional sales from acquisitions.
Martin said: 'Trading in our core UK market has remained robust during the year. Despite nervousness in the retail sector, our products have retained their popularity and sales have remained good. We are conscious that some retailers are reporting the impact of wider economic pressures but the hobby-based characteristics of our products lend resilience in such times and market feedback remains encouraging.'
During the year Hornby has pressed on with developing its network of concessions in other stores to 121 outlets. Sales in the concessions grew by 34% in the year and represented 15% of total UK sales. This does mean that Hornby is not heavily reliant on a few dominant retailers.
In any case, while Martin will not neglect the home market his eyes are on the acquisitions in Spain and Italy where enthusiasm for trains and racing cars is no less than here.
Hornby has exclusive rights to use images of Fernando Alonso, the Spanish Formula 1 star, and Sete Gibernau, well known to motorbike enthusiasts, on its Electrotren slot racing packaging in Spain, which apparently has more slot racing enthusiasts for size of population than any other country in the world.
In Italy, Hornby bought assets of model maker Lima from the liquidators and has shipped production out to China, where Hornby and Scalextric models are already produced. The first new Lima models will be in the shops in time for Christmas and more will be released in 2006.
It does mean that Lima will be incurring overheads before the sales revenue starts to flow. Although action has been taken to reduce costs by restructuring the Italian operation and holding down the headcount, interim profits will be depressed. Martin said, though, that profits for the year as a whole were unlikely to be affected.
The shares peaked at 280p late last year after a terrific run lasting nearly four years. We believed they were worth hanging on to at 241p after the January trading statement and we still think that was reasonable advice at the time, although they subsequently slipped further back to around 200p, where there seems to be solid support.
The recent weakness is an opportunity to buy in. The shares added 3.5p to 216p this morning.ENDS.
If you look at the figures you will see that the company is on a very low rating of P/E 14.6 which is very cheap for this company. At present I do not have a forward P/E but will try to get one.
Well worth a dabble.
Please DYOR.
cheers GF.
goldfinger
- 03 Jun 2005 12:04
- 2 of 107
cheers GF.
goldfinger
- 03 Jun 2005 12:09
- 3 of 107
LONDON (Reuters) - Hornby pinned its hopes on Batman spin offs and Spanish model car racers on Friday as it posted a 16 percent rise in year profit.
It also said its model-enthusiast customers could bolster it through the current consumer slowdown as they cut back on buying big things like cars and houses, but held true to their hobby.
Hornby said it was now focusing on overseas expansion, particularly in Spain, the world's largest per capita market for toy car racing tracks like its own Scalextric.
"They're very, very passionate about slot car racing -- very much into their club race nights and modifying cars," Finance Director John Stansfield told Reuters.
Hornby gained a foothold in Spain this year through its acquisition of the family-run Electrotren business.
"The Spanish slot car market is worth around 20-25 million euros, of which we have around 1.5 million euros, but I think as a target we can move to 5 million euros over 2 or 3 years," Stansfield added.
Hornby said it had agreed a marketing deal with Spanish Formula 1 star Fernando Alonso. A new Batmobile and Gotham City police car will be launched to coincide with the upcoming Batman movie, he said.
ROBUST HOBBYISTS
Profits before tax and goodwill amortisation were 7.5 million pounds in the year to March 31, said Hornby.
The group plans to expand into Europe through its businesses in Spain and Italy, where it recently bought model car and railway firm Lima Group.
Hornby said that while some retailers were reporting a slowdown in consumer spending, market feedback was encouraging.
"Looking forward, we are confident that despite a slowdown, our core hobbyist market place will remain robust," Chief Executive Frank Martin said in a statement.
Stansfield said that sales slowed in May and April, but on a like-for-like basis, they were still up on last year.
"There is a possible train of thought that people cut out the big chunks, they're not moving house as much, and potentially, on average, for some people that could actually release money," he said.
"When it's your hobby, and it's not mega-expensive, when something new comes out, as a collector, you're keen to have it."
Hornby said it was hopeful for its new digital systems that allow cars to switch lanes on the racetrack and overtake each other.
"Scalextric Sport Digital looks set to become the system of choice for the industry going forward," it said.
Hornby shares were flat at 212-1/2 pence by 0820 GMT, valuing the group at around 79 million pounds.
The total dividend was increased by 17 percent to 7 pence per share.
cheers GF.
It also said its model-enthusiast customers could bolster it through the current consumer slowdown as they cut back on buying big things like cars and houses, but held true to their hobby.
Hornby said it was now focusing on overseas expansion, particularly in Spain, the world's largest per capita market for toy car racing tracks like its own Scalextric.
"They're very, very passionate about slot car racing -- very much into their club race nights and modifying cars," Finance Director John Stansfield told Reuters.
Hornby gained a foothold in Spain this year through its acquisition of the family-run Electrotren business.
"The Spanish slot car market is worth around 20-25 million euros, of which we have around 1.5 million euros, but I think as a target we can move to 5 million euros over 2 or 3 years," Stansfield added.
Hornby said it had agreed a marketing deal with Spanish Formula 1 star Fernando Alonso. A new Batmobile and Gotham City police car will be launched to coincide with the upcoming Batman movie, he said.
ROBUST HOBBYISTS
Profits before tax and goodwill amortisation were 7.5 million pounds in the year to March 31, said Hornby.
The group plans to expand into Europe through its businesses in Spain and Italy, where it recently bought model car and railway firm Lima Group.
Hornby said that while some retailers were reporting a slowdown in consumer spending, market feedback was encouraging.
"Looking forward, we are confident that despite a slowdown, our core hobbyist market place will remain robust," Chief Executive Frank Martin said in a statement.
Stansfield said that sales slowed in May and April, but on a like-for-like basis, they were still up on last year.
"There is a possible train of thought that people cut out the big chunks, they're not moving house as much, and potentially, on average, for some people that could actually release money," he said.
"When it's your hobby, and it's not mega-expensive, when something new comes out, as a collector, you're keen to have it."
Hornby said it was hopeful for its new digital systems that allow cars to switch lanes on the racetrack and overtake each other.
"Scalextric Sport Digital looks set to become the system of choice for the industry going forward," it said.
Hornby shares were flat at 212-1/2 pence by 0820 GMT, valuing the group at around 79 million pounds.
The total dividend was increased by 17 percent to 7 pence per share.
cheers GF.
goldfinger
- 03 Jun 2005 12:31
- 4 of 107
From Citywire.............
Hornby: next stop Europe
Published: 10:14 Friday 03 June 2005 By: Algernon Craig Hall, Secret Buying Correspondent
Hobbyists continue to buy Hornby's model trains and its Scalextric slot cars despite weakness elsewhere on the high street and Europe beckons.
Worries about how the hobbyist market would take the high street slowdown following a warning from Games Workshop earlier this year were brushed aside by Hornby (HRN) today.
Finance director, John Stansfield, told Citywire: 'There are many similarities between us and Games Workshop but they moved into Lord of the Rings which was a short term thing we haven't had a Lord of the Rings, we've just had steady growth.'
Continued steady growth was evident in the company's numbers for the year to the end of March which were published today. Turnover rose 15% to 45 million and profit before tax and goodwill amortisation charges rose 16% to 7.5 million. The performance was reflected with a 17% increase in the final dividend to 7p.
Following another successful year's trading the group's plans are to invigorate its international operation, which was boosted last year by the acquisition of model train companies Electrotren in Spain and assets of Lima Group in Italy.
Sales in Spain, which is the world's largest per capita slot car market, will hopefully be boosted by distributing of slot car through Elecrotren and increased spending on promotions and marketing. The Group has exclusive right to use images of Spanish Formula 1 star Fernando Alonso and MotoGP motorbike rider Sete Gibernau.
However, the really exciting opportunity is Lima, which has market leading positions in Italy and France and a strong position in the large German toy train market. Manufacturing is moving to China to improve efficiency and the group will start distributing slot cars to Lima's markets. The operation is expected to make a loss in the first half but break even in the full year.
Stansfield said: 'It's a different scale to Hornby which is a UK brand we have a platform to sell to Europe.'
The group is embracing digital technology and says its Scalextric Sport Digital has been well received and looks set to become the system of choice.
The number of concessions has been increased by 10 during the year to 120 and the stronger distribution should make Hornby more resilient to retailer's demands for lower prices.
Scalextric USA, which distributes a number of European slot car systems in the US, was the only part of the business that did not do that well during the year. The weak dollar hit sales and margins.
Citywire Verdict:
Recent trading looks encouraging, although as long as the retail market remains weak worries are likely to persist.
The opportunities in Europe are exciting but this year will be largely concerned with laying the groundwork. The financial rewards should come from 2006 onwards.
Stansfield says he is comfortable with profit forecasts for this year of 8.5 million to 8.6 million. The shares are down 2.5p at 210p and all in all the group looks solid hold.
House broker Altium has advised clients to buy shares on weakness and has increased its recommendation from Hold to Add.
cheers GF.
Hornby: next stop Europe
Published: 10:14 Friday 03 June 2005 By: Algernon Craig Hall, Secret Buying Correspondent
Hobbyists continue to buy Hornby's model trains and its Scalextric slot cars despite weakness elsewhere on the high street and Europe beckons.
Worries about how the hobbyist market would take the high street slowdown following a warning from Games Workshop earlier this year were brushed aside by Hornby (HRN) today.
Finance director, John Stansfield, told Citywire: 'There are many similarities between us and Games Workshop but they moved into Lord of the Rings which was a short term thing we haven't had a Lord of the Rings, we've just had steady growth.'
Continued steady growth was evident in the company's numbers for the year to the end of March which were published today. Turnover rose 15% to 45 million and profit before tax and goodwill amortisation charges rose 16% to 7.5 million. The performance was reflected with a 17% increase in the final dividend to 7p.
Following another successful year's trading the group's plans are to invigorate its international operation, which was boosted last year by the acquisition of model train companies Electrotren in Spain and assets of Lima Group in Italy.
Sales in Spain, which is the world's largest per capita slot car market, will hopefully be boosted by distributing of slot car through Elecrotren and increased spending on promotions and marketing. The Group has exclusive right to use images of Spanish Formula 1 star Fernando Alonso and MotoGP motorbike rider Sete Gibernau.
However, the really exciting opportunity is Lima, which has market leading positions in Italy and France and a strong position in the large German toy train market. Manufacturing is moving to China to improve efficiency and the group will start distributing slot cars to Lima's markets. The operation is expected to make a loss in the first half but break even in the full year.
Stansfield said: 'It's a different scale to Hornby which is a UK brand we have a platform to sell to Europe.'
The group is embracing digital technology and says its Scalextric Sport Digital has been well received and looks set to become the system of choice.
The number of concessions has been increased by 10 during the year to 120 and the stronger distribution should make Hornby more resilient to retailer's demands for lower prices.
Scalextric USA, which distributes a number of European slot car systems in the US, was the only part of the business that did not do that well during the year. The weak dollar hit sales and margins.
Citywire Verdict:
Recent trading looks encouraging, although as long as the retail market remains weak worries are likely to persist.
The opportunities in Europe are exciting but this year will be largely concerned with laying the groundwork. The financial rewards should come from 2006 onwards.
Stansfield says he is comfortable with profit forecasts for this year of 8.5 million to 8.6 million. The shares are down 2.5p at 210p and all in all the group looks solid hold.
House broker Altium has advised clients to buy shares on weakness and has increased its recommendation from Hold to Add.
cheers GF.
goldfinger
- 09 Jun 2005 12:13
- 5 of 107
Now they are starting to move up.
cheers GF.
cheers GF.
goldfinger
- 10 Jun 2005 11:55
- 6 of 107
Going like a train now.
cheers GF.
cheers GF.
goldfinger
- 13 Jun 2005 11:09
- 7 of 107
Positive again. Looks like the post results cob webs have finally been removed.
cheers GF.
cheers GF.
goldfinger
- 13 Jun 2005 23:39
- 8 of 107
Looking very strong. I told you so LOL.
Cheers GF
Cheers GF
daves dazzlers
- 13 Jun 2005 23:58
- 9 of 107
GF,new products soon for scalextric,i here there`s a film out june 16th,,,dunner,,dunner,,dun
ner,,dunner,,dunner,,dunner,,dunner,,dunner,,,batman.
Absolute give away when it was 1.90 all the same..
ner,,dunner,,dunner,,dunner,,dunner,,dunner,,,batman.
Absolute give away when it was 1.90 all the same..
Fred1new
- 14 Jun 2005 00:11
- 10 of 107
No cash, but it does look nice. I would like to have a seat on this train.
goldfinger
- 14 Jun 2005 10:59
- 11 of 107
And up again she goes.
cheers GF.
cheers GF.
Perky
- 18 Jun 2005 08:11
- 12 of 107
Hadn't you better stop ramping now goldfinger?
chesneywilliam - 18 Jul 2005 18:02 - 13 of 107
goldfinger i bought @2.42 feb 05 are we goiing to see a harvest by october.? also does any one have any thoughts on european nickle?
regards cw
regards cw
panic
- 22 Jul 2005 13:58
- 14 of 107
Always been a kid at heart, so in I go,
Goosy - 18 Dec 2005 21:52 - 15 of 107
This share now looks cheap for a well managed business.......
I intend to get in big at 188p
I intend to get in big at 188p
Goosy - 23 Jan 2006 13:52 - 16 of 107
I bought 50000 HRN shares recently and couldnt figure out why the trade wasnt being reported on Money am
I then discovered that Hornby shares are being traded on two exchanges Sets and Plus net http://www.plus-trading.co.uk/details.shtml?ISIN=GB00B01CZ652
this means you have to monitor plus net to examine all the trades in real time
Incidentally it also provides a way for Sellers to dribble away their holding of shares ..........which my Broker told me was what was probably happening in my case........somebody has had a a large unfulfilled sell order on HRN for several weeks
I then discovered that Hornby shares are being traded on two exchanges Sets and Plus net http://www.plus-trading.co.uk/details.shtml?ISIN=GB00B01CZ652
this means you have to monitor plus net to examine all the trades in real time
Incidentally it also provides a way for Sellers to dribble away their holding of shares ..........which my Broker told me was what was probably happening in my case........somebody has had a a large unfulfilled sell order on HRN for several weeks
goldfinger
- 24 Jan 2006 08:23
- 17 of 107
Yes goosy it rather complicates things. Im sure in time they will be a big recovery story. At the moment out, but on the hot stock watch list.
cheers GF.
cheers GF.
Goosy - 25 Jan 2006 12:56 - 18 of 107
Last week I tried to order different items online from the HRN website only to find there was no stock
Does this suggest a good Xmas or just poor stock control ?
Does this suggest a good Xmas or just poor stock control ?
lanayel
- 25 Jan 2006 13:03
- 19 of 107
I suspect it could be poor stock control (unfortunately).
Post Christmas my local branches of Boots and WHSmith have been selling mini-Scalextric sets very cheaply to get rid of stock. The local department store (a very big one with a Hornby concession shop) has lots of locomotives and Scalextric cars going cheap whilst the local branch of a well known model retailer has big discounts on Hornby items (and very big discounts on limited edition items that were very expensive to start with).
Post Christmas my local branches of Boots and WHSmith have been selling mini-Scalextric sets very cheaply to get rid of stock. The local department store (a very big one with a Hornby concession shop) has lots of locomotives and Scalextric cars going cheap whilst the local branch of a well known model retailer has big discounts on Hornby items (and very big discounts on limited edition items that were very expensive to start with).
goldfinger
- 30 Jan 2006 09:48
- 20 of 107
Now back in.
Hornby on track
MoneyAM
Hornby expects FY profits before IFRS adjustments to come in broadly in line with expectations.
The model railways group said strong sales in Europe offset a drop in the UK.
The maker of Scalextric also said pre-Christmas trading was more difficult than in previous years.
'This had the effect of depressing sales of both Scalextric and Hornby sets,' it said in a trading statement.
'However, sales of hobby accessories performed well, particularly in the model railway sector.'
It went on: 'The beneficial impact of the acquired businesses in Spain, Italy and France is expected to offset partially the effects of lower sales in the UK. As a result of this, the company expects to achieve full year profits prior to IFRS adjustments broadly in line with market expectations.'
cheers GF.
Hornby on track
MoneyAM
Hornby expects FY profits before IFRS adjustments to come in broadly in line with expectations.
The model railways group said strong sales in Europe offset a drop in the UK.
The maker of Scalextric also said pre-Christmas trading was more difficult than in previous years.
'This had the effect of depressing sales of both Scalextric and Hornby sets,' it said in a trading statement.
'However, sales of hobby accessories performed well, particularly in the model railway sector.'
It went on: 'The beneficial impact of the acquired businesses in Spain, Italy and France is expected to offset partially the effects of lower sales in the UK. As a result of this, the company expects to achieve full year profits prior to IFRS adjustments broadly in line with market expectations.'
cheers GF.
Goosy - 30 Jan 2006 10:30 - 21 of 107
With similar results to last year but more strategic options in place .....hrn should now power towards a new high by the year end in March
eg min size to buy 1500
minsize to sell 15000
Hooray
eg min size to buy 1500
minsize to sell 15000
Hooray
Goosy - 16 May 2006 15:44 - 22 of 107
Is there anybody out there interested in using this BB ??
The HRN Chairman`s recent statement said that he expects Hornby not to be so dependent on the UK for profits in future years as the overseas and US businesses are developed...This is justified by claiming that the european businesses acquired over the past 2yrs or so are only now at the growth stage that Hornby was 4/5 yrs ago but have greater volume and profit potential
The key comment was
"This strategy of targeting stable, collector markets across Europe will have the effect of reducing permanently the Company's dependence on the UK market"
I take this statement as implying that
..........sales in european markets ought to return over 3 to 4 yrs to at least the best market share and volume levels achieved by the previous owners of Electrotren, Jouef, Rivarossi, Lima and Arnold in their respective markets
and
The P&L impact of this growth is forecast to reduce the share of
hrn future profits taken by the UK to a significant minority compared with the present time
Suggesting that if UK profits in 4 yrs time were say 9.3m
...................a compound growth of around 5%
Then with the greater growth in Europe
The Statement implies that the UK would no longer be the source of the bulk of the profits inferring a UK P&L share below 50%
Lets assume the Uk share of the P&L in 4 yrs time is 45%
........Suggesting profits in 4yrs time of around 21m
Possibly
8m , 10m, 13m, 17m and 21m
and hence
with a constant eps
An sp increase from 215p to around 560p should be attainable in 4 yrs
this would still be pretty impressive growth in anybody`s language.. even allowing for inflation
Any views ?
The HRN Chairman`s recent statement said that he expects Hornby not to be so dependent on the UK for profits in future years as the overseas and US businesses are developed...This is justified by claiming that the european businesses acquired over the past 2yrs or so are only now at the growth stage that Hornby was 4/5 yrs ago but have greater volume and profit potential
The key comment was
"This strategy of targeting stable, collector markets across Europe will have the effect of reducing permanently the Company's dependence on the UK market"
I take this statement as implying that
..........sales in european markets ought to return over 3 to 4 yrs to at least the best market share and volume levels achieved by the previous owners of Electrotren, Jouef, Rivarossi, Lima and Arnold in their respective markets
and
The P&L impact of this growth is forecast to reduce the share of
hrn future profits taken by the UK to a significant minority compared with the present time
Suggesting that if UK profits in 4 yrs time were say 9.3m
...................a compound growth of around 5%
Then with the greater growth in Europe
The Statement implies that the UK would no longer be the source of the bulk of the profits inferring a UK P&L share below 50%
Lets assume the Uk share of the P&L in 4 yrs time is 45%
........Suggesting profits in 4yrs time of around 21m
Possibly
8m , 10m, 13m, 17m and 21m
and hence
with a constant eps
An sp increase from 215p to around 560p should be attainable in 4 yrs
this would still be pretty impressive growth in anybody`s language.. even allowing for inflation
Any views ?
goldfinger
- 16 May 2006 23:31
- 23 of 107
Still in and holding G.
560p in 4 years, thatl do me.
Always made money on this one.
Lost its way a little 10 month ago but seems to have recovered and the future looks very good. Watch out for analyst tips.
Cheers GF.
560p in 4 years, thatl do me.
Always made money on this one.
Lost its way a little 10 month ago but seems to have recovered and the future looks very good. Watch out for analyst tips.
Cheers GF.
Seymour Clearly
- 16 May 2006 23:39
- 24 of 107
Also looking again at them myself Goosy, have made a bit from them in the past, hopefully now ready for takeoff again. No position as yet.
Goosy - 18 May 2006 23:23 - 25 of 107
Thanks guys for responding...I thought I was the only HRN investor in the world
Lets keep it a secret that HRN is a red hot stock.....that way the sp can only fall and we can buy up the remaining 30% - 40% not held by Funds..........
Lets keep it a secret that HRN is a red hot stock.....that way the sp can only fall and we can buy up the remaining 30% - 40% not held by Funds..........
Goosy - 22 May 2006 20:16 - 26 of 107
GF , Seymour
Is`nt this great ..
.the sp has dropped to 207p
......... another few days of this and and we can top up again at 175p just in time for a bounce back to 230p in June......
Is`nt this great ..
.the sp has dropped to 207p
......... another few days of this and and we can top up again at 175p just in time for a bounce back to 230p in June......
Goosy - 05 Jun 2006 21:58 - 27 of 107
Why didnt I buy at 207p....?
This share is heading for 250p before the divi is paid in August........
This share is heading for 250p before the divi is paid in August........
goldfinger
- 06 Jun 2006 10:11
- 28 of 107
Goosy you still might be able to get it a little cheaper if the present overall market conditions prevail.
Goosy - 08 Jun 2006 21:32 - 29 of 107
GF
The sp has been unaffected by the market slump of 10% over the past month
Just shows how tight the "free" market actually is
Some big trades today around 230p............Can`t believe they are buying from funds with the ex divi date in July...funds like the cash coming in
Could there be a new big buyer on the reservation ?
The sp has been unaffected by the market slump of 10% over the past month
Just shows how tight the "free" market actually is
Some big trades today around 230p............Can`t believe they are buying from funds with the ex divi date in July...funds like the cash coming in
Could there be a new big buyer on the reservation ?
skreen
- 28 Jun 2006 15:33
- 30 of 107
Hornby has smashed through previous resistence levels on heavy volume, time to buy.
Goosy - 29 Jun 2006 12:37 - 31 of 107
Skreen
Looks like you are right and the sp is now motoring at a rate of knots....Any ideas on the next resistance level and if a bid may be looming...?
Looks like you are right and the sp is now motoring at a rate of knots....Any ideas on the next resistance level and if a bid may be looming...?
Goosy - 11 Sep 2006 10:32 - 32 of 107
Looks like we are teetering on the brink of a breakout to 260p - 270p another bullish statement or even no xmas cautionery note in the next month or so and we could be there ...
goldfinger
- 11 Sep 2006 13:06
- 33 of 107
Yup looks very interesting at the moment. Higher price could be well on the way especially leading up to xmas.
Goosy - 11 Sep 2006 14:56 - 34 of 107
Re previous post 22....
Given the conservatism of the Chairman`s past announcements it is most unlikely that the recent german acquisition was in his calculation when he said that he saw the UK Market representing a minority proportion of the business in future years........and given the potential of the german market..this makes that statement even more credible.......
DYOR
Given the conservatism of the Chairman`s past announcements it is most unlikely that the recent german acquisition was in his calculation when he said that he saw the UK Market representing a minority proportion of the business in future years........and given the potential of the german market..this makes that statement even more credible.......
DYOR
goldfinger
- 17 Oct 2006 01:19
- 35 of 107
Looking rather strong.
Forward P/E of 13.9 to 31st march 2008.
Forward P/E of 13.9 to 31st march 2008.
goldfinger
- 17 Oct 2006 15:01
- 36 of 107
Holding its own on a bad day for small caps.
goldfinger
- 24 Oct 2006 16:37
- 37 of 107
Looks like its breaking out.
hlyeo98 - 10 Nov 2006 18:36 - 38 of 107
Hornby profits slide
MoneyAM
Hornby said pretax profits for the first half were 1.4m, compared with 2.5m a year ago.
The international models and collectibles group said this was due to lower sales in UK.
It declared an interim dividend of 2.5p per share, up 9% from a year earlier.
Hornby confirmed press reports it has acquired certain assets of Humbrol Ltd, including the Airfix model kit business, out of administration for 2.6m in cash.
'We expect this acquisition to be broadly earnings neutral in the current financial year, but to be significantly earnings enhancing thereafter,' said Neil Johnson in his review as the company announced its results for the six months to September 30th.
The company expects 'significantly stronger' performance in the second half of the current financial year.
MoneyAM
Hornby said pretax profits for the first half were 1.4m, compared with 2.5m a year ago.
The international models and collectibles group said this was due to lower sales in UK.
It declared an interim dividend of 2.5p per share, up 9% from a year earlier.
Hornby confirmed press reports it has acquired certain assets of Humbrol Ltd, including the Airfix model kit business, out of administration for 2.6m in cash.
'We expect this acquisition to be broadly earnings neutral in the current financial year, but to be significantly earnings enhancing thereafter,' said Neil Johnson in his review as the company announced its results for the six months to September 30th.
The company expects 'significantly stronger' performance in the second half of the current financial year.
Haystack
- 10 Nov 2006 19:48
- 39 of 107
The acquisition of Airfix etc. should keep this down for a while. It may even see increased pressure on it.
goldfinger
- 10 Nov 2006 22:55
- 40 of 107
A temporary kick in the teeth, no more than that.
Goosy - 20 Nov 2006 22:43 - 41 of 107
Clairvoyant post GF...........as we target 280p
hlyeo98 - 01 Jun 2007 19:06 - 42 of 107
UK smallcap opening - Hornby runs back on disappointing FY numbers
AFX
LONDON (Thomson Financial) - Hornby ran back 11 pence to 275 as the international hobby products group delivered disappointing full-year numbers. Management is confident of improving results in the coming year, aided by a wider spread of activities.
However, Altium Securities anticipates cutting estimates for 2008 and beyond and, as a result, has provisionally reduced it target price to 250 pence from 315 and its recommendation to 'reduce' from 'add'.
tf.TFN-Europe_newsdesk@thomson.com
AFX
LONDON (Thomson Financial) - Hornby ran back 11 pence to 275 as the international hobby products group delivered disappointing full-year numbers. Management is confident of improving results in the coming year, aided by a wider spread of activities.
However, Altium Securities anticipates cutting estimates for 2008 and beyond and, as a result, has provisionally reduced it target price to 250 pence from 315 and its recommendation to 'reduce' from 'add'.
tf.TFN-Europe_newsdesk@thomson.com
hlyeo98 - 01 Jun 2007 19:08 - 43 of 107
hlyeo98 - 02 Apr 2008 22:23 - 44 of 107
176p now...in bad times, who would want to spend money on these toy trains???
SELL now.
SELL now.
hlyeo98 - 04 Apr 2008 14:27 - 45 of 107
Altium has reduced Hornby's target to 150p from 200p. Sell now.
partridge
- 06 Jun 2008 09:58
- 46 of 107
Results to March 2008 out today and I have bought at 169p.The model business (these are not toys) has been shown to be quite resilient historically in difficult economic times and it is not as seasonal as might be imagined (approx 60% sales in second half i.e over Xmas period). HRN looks sensibly managed, it is growing steadily, has strong cash flows from operations, negligible debt and yield on increased dividend over 5%. Maybe not for traders, but I am happy to lock some away for a few years at this price.Always DYOR
hlyeo98 - 27 Jun 2008 18:28 - 47 of 107
145p now.
hlyeo98 - 05 Jun 2009 11:38 - 48 of 107
Currently 96p. Keep on selling.
Hornby omits final divi
Business Financial Newswire
Hobby products group Hornby reported pretax profits 6.1m for the year to March, down from 9m.
Turnover was up 11% to 61.6m (2008: 55.7m) and underlying pretax profits were 6.3m (2008: 8.4m).
Earnings per share was 11.17p (2008: 16.15p).
No final dividend was declared (2008: 5.8p), the group blaming sterling volatility and the need to retain strong balance sheet.
Total dividend for year is 2.7p (2008: 8.5p).
The group said consumer demand strengthened in final quarter of financial year and has continued strongly since then , but results were constrained by supply chain issues.
A new licence was announced with the Brawn GP Formula One team.
Frank Martin, CEO, commented: ' This has been a challenging year for Hornby. As a result of the weak pound and continuing supply chain issues, our profits and margins have come under pressure. As a result, the Board thinks it prudent not to pay a final dividend. This is a decision that will enable us to strengthen an already healthy balance sheet.
'Our supply chain issues are a source of frustration but we remain committed to and are making progress towards the implementation of a satisfactory solution.
' The diversity of our products across the Group continues to impress and attract customers. We are a broadly based hobby business and the continued demand for our products proves our resilience in times of recession.
'We continue to explore new and exciting ways of extending our product offering. Recently, for example, we have signed an exclusive worldwide license agreement with the Brawn GP Formula One team. Our work with the McLaren Formula One team continues and we wish both Lewis Hamilton and Jensen Button the very best for the rest of the season. Further, we have signed agreements with Disney Productions for the blockbuster movie series 'Cars'. We have also agreed an extension of the James Bond 007 licence to cover our Corgi ranges.
' We are also extending our existing online activities by further site development and links to social networking sites. Our websites attract over 65,000 unique visitors per week. Online represents an exciting opportunity for Hornby. The results of our work so far have been very encouraging and highlight our innovative approach to maximising our brand strengths.'
Hornby omits final divi
Business Financial Newswire
Hobby products group Hornby reported pretax profits 6.1m for the year to March, down from 9m.
Turnover was up 11% to 61.6m (2008: 55.7m) and underlying pretax profits were 6.3m (2008: 8.4m).
Earnings per share was 11.17p (2008: 16.15p).
No final dividend was declared (2008: 5.8p), the group blaming sterling volatility and the need to retain strong balance sheet.
Total dividend for year is 2.7p (2008: 8.5p).
The group said consumer demand strengthened in final quarter of financial year and has continued strongly since then , but results were constrained by supply chain issues.
A new licence was announced with the Brawn GP Formula One team.
Frank Martin, CEO, commented: ' This has been a challenging year for Hornby. As a result of the weak pound and continuing supply chain issues, our profits and margins have come under pressure. As a result, the Board thinks it prudent not to pay a final dividend. This is a decision that will enable us to strengthen an already healthy balance sheet.
'Our supply chain issues are a source of frustration but we remain committed to and are making progress towards the implementation of a satisfactory solution.
' The diversity of our products across the Group continues to impress and attract customers. We are a broadly based hobby business and the continued demand for our products proves our resilience in times of recession.
'We continue to explore new and exciting ways of extending our product offering. Recently, for example, we have signed an exclusive worldwide license agreement with the Brawn GP Formula One team. Our work with the McLaren Formula One team continues and we wish both Lewis Hamilton and Jensen Button the very best for the rest of the season. Further, we have signed agreements with Disney Productions for the blockbuster movie series 'Cars'. We have also agreed an extension of the James Bond 007 licence to cover our Corgi ranges.
' We are also extending our existing online activities by further site development and links to social networking sites. Our websites attract over 65,000 unique visitors per week. Online represents an exciting opportunity for Hornby. The results of our work so far have been very encouraging and highlight our innovative approach to maximising our brand strengths.'
partridge
- 30 Jul 2009 14:33
- 49 of 107
Encouraging comments at AGM today. Prospects look better than for some time, with demand strong and supply chain issues now being slowly sorted out. Gross margins in year to March 2010 will be adversely impacted by forward purchases of US dollars at 1.40., so it will be the year after when growth hopefully returns (always assuming no further collapse in ) Purchase last year premature, but I remain confident in HRN for the medium term, despite their vulnerability to exchange rate risk. Always DYOR.
partridge
- 23 Apr 2010 09:29
- 50 of 107
Bullish comment at AGM last year borne out by trading update today - ahead of expectations and return to dividend payments. Nagging doubt remains their vulnerability to a weak , but time may come when sterling strengthens and in the meantime they appear to have learned to cope. I continue to hold, but always DYOR.
goldfinger
- 26 Apr 2010 13:48
- 51 of 107
Hornby as produced a very bullish inverse head and shoulders pattern breakout from fridays upbeat trading statement. Looks to be plenty to come here and trading on a undemanding forward P/E of just over 11 to 2011.
Bought a few this morning.
Broker Numis as a buy on it aswell...
Hornby PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Numis Securities Ltd
23-04-10 BUY 5.70 10.30 6.80 12.30
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 5.70 10.30 6.80 12.30
1 Month Change 0.70 1.20 0.00 0.00
3 Month Change 0.70 1.20 0.00 0.00
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS -22.94% -14.33% 19.42%
DPS 2.41% % %
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 11.98m m m
EBIT 7.30m m m
Dividend Yield 6.20% % %
Dividend Cover 1.41x x x
PER 11.40x 13.30x 11.14x
PEG -0.50f -0.93f 0.57f
Net Asset Value PS 32.22p p p
Bought a few this morning.
Broker Numis as a buy on it aswell...
Hornby PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Numis Securities Ltd
23-04-10 BUY 5.70 10.30 6.80 12.30
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 5.70 10.30 6.80 12.30
1 Month Change 0.70 1.20 0.00 0.00
3 Month Change 0.70 1.20 0.00 0.00
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS -22.94% -14.33% 19.42%
DPS 2.41% % %
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 11.98m m m
EBIT 7.30m m m
Dividend Yield 6.20% % %
Dividend Cover 1.41x x x
PER 11.40x 13.30x 11.14x
PEG -0.50f -0.93f 0.57f
Net Asset Value PS 32.22p p p
goldfinger
- 26 Apr 2010 14:59
- 52 of 107
Bullish Broker note out late Friday.......
Date Broker name New Price Old price target New price target Broker change
23-Apr-10 Numis Buy 137.00p 160.00p - Reiteration
160p SP target
Date Broker name New Price Old price target New price target Broker change
23-Apr-10 Numis Buy 137.00p 160.00p - Reiteration
160p SP target
loadsadosh
- 28 Apr 2010 11:18
- 53 of 107
I am somewhat a novice and am therefore unsure does this RNS mean that LLoyds have relinquished voting rights on these shares or that they have reduced their holding?
Sharecast News
Hornby (HRN)
deal in this share
Holding(s) in Company
RNS Number : 8989K
Hornby PLC
27 April 2010
Sharecast News
Hornby (HRN)
deal in this share
Holding(s) in Company
RNS Number : 8989K
Hornby PLC
27 April 2010
skinny
- 28 Apr 2010 12:05
- 54 of 107
The clue is here -
7. Threshold(s) that is/are crossed or reached:
Direct / Indirect holdings decreased to below 4%
7. Threshold(s) that is/are crossed or reached:
Direct / Indirect holdings decreased to below 4%
loadsadosh
- 28 Apr 2010 12:16
- 55 of 107
Cheers skinny guess I was too busy looking at the trees to see the wood
goldfinger
- 30 Apr 2010 09:03
- 56 of 107
Tipped in Investors Chronicle today....
Mr Bearbull
* Doing versus standing - Mr Bearbull adds 3 holdings to its speculative fund: - Home Retail, Hornby and ITV
Mr Bearbull
* Doing versus standing - Mr Bearbull adds 3 holdings to its speculative fund: - Home Retail, Hornby and ITV
loadsadosh
- 04 Jun 2010 13:15
- 57 of 107
These results seem promising although sp has been hammered in recent days
RNS Number : 0616N
Hornby PLC
04 June 2010
HORNBY RESUMES DIVIDEND AS SALES MOMENTUM BUILDS
Hornby Plc ("Hornby" or the "Group"), the international hobby products group, has today announced its results for the year ended 31 March 2010. Hornby owns a number of model railway and slot car brands, Airfix models, Humbrol paints and Corgi die cast models.
Turnover for the year up 5% to 64.7 million (2009: 61.6 million)
Cash generation strong, net debt reduced to 3.2 million (2009: 11.8 million)
Underlying profit before tax* of 5.7 million (2009: 6.3 million)
Reported profit before tax of 5.2 million (2009: 6.1 million)
Statutory basic earnings per share of 9.76p (2009: 11.17p)
Dividend of 5.0p declared (2009: 2.7p)
London 2012 Olympic Games merchandise introduced
* Stated before amortisation of intangibles and net foreign exchange adjustments on intercompany loans
Frank Martin, Chief Executive of Hornby, said,
"We have made excellent progress during the year. Demand for our products has remained robust and we enjoyed a strong finish to the year. Many of our UK retailers have been keen to re-stock after a strong Christmas trading period.
"Given the strong cash generation over the year, we have reduced our debt levels significantly. This has also enabled the Group to be able to announce the resumption of a dividend. This is an important step and demonstrates our confidence in the strategy and the financial strength of the business.
"Looking forward, Hornby is in excellent shape. We have agreed a number of new exciting licenses including collaboration with Disney/Pixar to produce products associated with the new Toy Story 3 Movie. Importantly, we continue to introduce more merchandise associated with the London 2012 Olympic Games. We expect these product lines to perform well as we get closer to the games."
RNS Number : 0616N
Hornby PLC
04 June 2010
HORNBY RESUMES DIVIDEND AS SALES MOMENTUM BUILDS
Hornby Plc ("Hornby" or the "Group"), the international hobby products group, has today announced its results for the year ended 31 March 2010. Hornby owns a number of model railway and slot car brands, Airfix models, Humbrol paints and Corgi die cast models.
Turnover for the year up 5% to 64.7 million (2009: 61.6 million)
Cash generation strong, net debt reduced to 3.2 million (2009: 11.8 million)
Underlying profit before tax* of 5.7 million (2009: 6.3 million)
Reported profit before tax of 5.2 million (2009: 6.1 million)
Statutory basic earnings per share of 9.76p (2009: 11.17p)
Dividend of 5.0p declared (2009: 2.7p)
London 2012 Olympic Games merchandise introduced
* Stated before amortisation of intangibles and net foreign exchange adjustments on intercompany loans
Frank Martin, Chief Executive of Hornby, said,
"We have made excellent progress during the year. Demand for our products has remained robust and we enjoyed a strong finish to the year. Many of our UK retailers have been keen to re-stock after a strong Christmas trading period.
"Given the strong cash generation over the year, we have reduced our debt levels significantly. This has also enabled the Group to be able to announce the resumption of a dividend. This is an important step and demonstrates our confidence in the strategy and the financial strength of the business.
"Looking forward, Hornby is in excellent shape. We have agreed a number of new exciting licenses including collaboration with Disney/Pixar to produce products associated with the new Toy Story 3 Movie. Importantly, we continue to introduce more merchandise associated with the London 2012 Olympic Games. We expect these product lines to perform well as we get closer to the games."
loadsadosh
- 08 Jun 2010 11:48
- 58 of 107
trading well today, Good to see Asset Management Limited have almost doubled their holdings this week
loadsadosh
- 09 Jun 2010 11:10
- 59 of 107
sp has risen 8p in the last two days, hopefully the start of a good upward trend
loadsadosh
- 10 Jun 2010 10:10
- 60 of 107
looking like another blue day so far
loadsadosh
- 17 Sep 2010 09:25
- 61 of 107
Well the SP has finally reached the forcast 160p with no news in the price, looking at the charts it seems to be on a steady climb with lower resistance at 150 upper at 162 any thoughts on future trends for this stock?
mitzy - 25 Jan 2011 09:07 - 62 of 107
Plenty of weakness ahead.
partridge
- 11 Nov 2011 08:39
- 63 of 107
Half year figures today unusually contain no nasty surprises. Given difficult retail market conditions performance imo creditable, albeit key Christmas period to come. They do seem to have rectified the supply issues which have blighted previous efforts to progress in Europe, so on balance reassured. Always dyor.
mitzy - 27 Jan 2012 13:31 - 64 of 107
Best to sell imo.
partridge
- 27 Jan 2012 13:39
- 66 of 107
Inclined to agree, Mitzy. Too many surprises the wrong way.
hlyeo98 - 27 Jan 2012 15:59 - 67 of 107
This is a company of the past... its toys have past its era. Children nowadays are not interested in toy trains anymore.
hlyeo98 - 27 Jan 2012 16:01 - 68 of 107
dreamcatcher
- 01 Jun 2012 16:07
- 69 of 107
Thomas and his friends
Were you ever a model train enthusiast? I was when I was young, and I had a whole set of Hornby stuff. I'm really pleased that Hornby is still going as an independent listed company, and we're expecting full-year results on Friday.
Perhaps unsurprisingly, over the past few years when people have been worrying about their mortgages, their savings and their jobs, profits have fallen off as there have clearly been more important ways to spend money. And there was no dividend paid in 2010.
But things look to be picking up, with nice earnings recovery expected for this year and next. And the current forecasts put the dividend yield as high as 8%. With a market cap of just under £30m, it's the kind of tiddler that's out of favour these days -- but it might just be worth a closer look.
Were you ever a model train enthusiast? I was when I was young, and I had a whole set of Hornby stuff. I'm really pleased that Hornby is still going as an independent listed company, and we're expecting full-year results on Friday.
Perhaps unsurprisingly, over the past few years when people have been worrying about their mortgages, their savings and their jobs, profits have fallen off as there have clearly been more important ways to spend money. And there was no dividend paid in 2010.
But things look to be picking up, with nice earnings recovery expected for this year and next. And the current forecasts put the dividend yield as high as 8%. With a market cap of just under £30m, it's the kind of tiddler that's out of favour these days -- but it might just be worth a closer look.
dreamcatcher
- 01 Jun 2012 18:50
- 70 of 107
Hornby Plc, the international models and collectibles Group, will announce its full year results on Friday 8th June 2012.
dreamcatcher
- 05 Jun 2012 15:27
- 71 of 107
Friday June 8 =
• 2012 was meant to be a year when Hornby could hang out the bunting. It won the right to make a variety of Olympic-themed products from die-cast London buses to a rather funky Olympic velodrome Scalextric track. But its Christmas trading update was very disappointing, suggesting consumers were both trading down to cheaper products and not that interested in wenlock and mandeville keyrings.
Investors will be hoping that this situation has been reversed and the Olympics, along with the company’s diversification into areas other than train sets, is starting to pay off. WH Ireland is forecasting revenues to increase from £63.4m to £68m, and pre-tax profit to edge up from £4.1m to £4.8m.
• 2012 was meant to be a year when Hornby could hang out the bunting. It won the right to make a variety of Olympic-themed products from die-cast London buses to a rather funky Olympic velodrome Scalextric track. But its Christmas trading update was very disappointing, suggesting consumers were both trading down to cheaper products and not that interested in wenlock and mandeville keyrings.
Investors will be hoping that this situation has been reversed and the Olympics, along with the company’s diversification into areas other than train sets, is starting to pay off. WH Ireland is forecasting revenues to increase from £63.4m to £68m, and pre-tax profit to edge up from £4.1m to £4.8m.
dreamcatcher
- 08 Jun 2012 07:29
- 72 of 107
Hornby pretax profits remain on track
StockMarketWire.com
Hobby products group Hornby reported turnover for the year to end-March up 1.7% to £64.4m (2011: £63.4m).
Underlying profit before tax was of £4.5m (2011: £4.4m) and reported profit before tax £4m (2011: £4.1m).
Statutory basic earnings per share were 8.19p (2011: 7.50p).
Total dividend was 3.7p per share (2011: 5p).
The Corgi cars and Airfix owner said sales of London 2012 merchandise were growing strongly.
There was a new license win with Moshi Monsters for a range of pin badges and die-cast vehicles and Star Wars Scalextric was launched this year.
The company had net debt of £6.3m at period end (2011: £6.1m).
Frank Martin, CEO, commented, "Despite the backdrop of a challenging market, Hornby is making encouraging progress. Our ability to broaden our product and distribution base will enable us to mitigate to some extent any short term weakness in our traditional hobby sectors. We are pleased that sales of our London 2012 merchandise are gathering momentum. We expect this unique license opportunity to contribute positively to profits in the short term and, through the increased distribution that we gain as a result of our involvement with London 2012, to provide an ongoing legacy benefit in substantially increasing our presence in mass market retail outlets.
"In order to benefit from this increased presence following London 2012 we have developed a number of new ranges with entry-level price points ranging from £2 to £9.99. The first of these ranges is a series of collectable pin-badges based on the Moshi Monsters license.
"There is no doubt that there will continue to be pressure on consumer confidence for some time to come. However we continue to innovate and to seek new commercial opportunities in order to counter the effects of the macro-economic climate in which we are operating."
StockMarketWire.com
Hobby products group Hornby reported turnover for the year to end-March up 1.7% to £64.4m (2011: £63.4m).
Underlying profit before tax was of £4.5m (2011: £4.4m) and reported profit before tax £4m (2011: £4.1m).
Statutory basic earnings per share were 8.19p (2011: 7.50p).
Total dividend was 3.7p per share (2011: 5p).
The Corgi cars and Airfix owner said sales of London 2012 merchandise were growing strongly.
There was a new license win with Moshi Monsters for a range of pin badges and die-cast vehicles and Star Wars Scalextric was launched this year.
The company had net debt of £6.3m at period end (2011: £6.1m).
Frank Martin, CEO, commented, "Despite the backdrop of a challenging market, Hornby is making encouraging progress. Our ability to broaden our product and distribution base will enable us to mitigate to some extent any short term weakness in our traditional hobby sectors. We are pleased that sales of our London 2012 merchandise are gathering momentum. We expect this unique license opportunity to contribute positively to profits in the short term and, through the increased distribution that we gain as a result of our involvement with London 2012, to provide an ongoing legacy benefit in substantially increasing our presence in mass market retail outlets.
"In order to benefit from this increased presence following London 2012 we have developed a number of new ranges with entry-level price points ranging from £2 to £9.99. The first of these ranges is a series of collectable pin-badges based on the Moshi Monsters license.
"There is no doubt that there will continue to be pressure on consumer confidence for some time to come. However we continue to innovate and to seek new commercial opportunities in order to counter the effects of the macro-economic climate in which we are operating."
dreamcatcher
- 08 Jun 2012 07:33
- 73 of 107
Turnover for the year up 1.7% to £64.4 million (2011: £63.4 million)
· Underlying profit before tax* of £4.5 million (2011: £4.4 million)
· Reported profit before tax of £4.0 million (2011: £4.1 million)
· Statutory basic earnings per share 8.19p (2011: 7.50p)
· Total dividend of 3.7p per share (2011: 5.0p)
· Sales of London 2012 merchandise growing strongly
· New license win with Moshi Monsters for a range of pin badges and die-cast vehicles
· Star Wars Scalextric launched this year
· New products associated with 'Olly the Little White Van' and Corgi 'Toys' developed
· Net debt £6.3 million (2011: £6.1 million)
http://www.moneyam.com/action/news/showArticle?id=4384605
· Underlying profit before tax* of £4.5 million (2011: £4.4 million)
· Reported profit before tax of £4.0 million (2011: £4.1 million)
· Statutory basic earnings per share 8.19p (2011: 7.50p)
· Total dividend of 3.7p per share (2011: 5.0p)
· Sales of London 2012 merchandise growing strongly
· New license win with Moshi Monsters for a range of pin badges and die-cast vehicles
· Star Wars Scalextric launched this year
· New products associated with 'Olly the Little White Van' and Corgi 'Toys' developed
· Net debt £6.3 million (2011: £6.1 million)
http://www.moneyam.com/action/news/showArticle?id=4384605
dreamcatcher
- 09 Jun 2012 20:57
- 74 of 107
goldfinger
- 10 Jun 2012 13:55
- 75 of 107
Loadsa ....... looking very interesting.
"Importantly, we continue to introduce more merchandise associated with the London 2012 Olympic Games. We expect these product lines to perform well as we get closer to the games."
Very bullish presentation.
Think its time or near abouts to remove it from Bearish Trending Charts on Chart Attack.
"Importantly, we continue to introduce more merchandise associated with the London 2012 Olympic Games. We expect these product lines to perform well as we get closer to the games."
Very bullish presentation.
Think its time or near abouts to remove it from Bearish Trending Charts on Chart Attack.
goldfinger
- 10 Jun 2012 14:16
- 76 of 107
Hmm just checked the chart and cant take it off just yet or Id be cheating and breaking the thread rules. But i think Ill buy myself some after clarity over greek elections next sat/sunday.
dreamcatcher
- 15 Jun 2012 17:11
- 77 of 107
goldfinger
- 18 Jun 2012 18:48
- 78 of 107
Couldnt help it was tempted by HORNBY at the death today. Cheap going forward fantastic last RNS outlook statement. Olympics boost.
Brokers on side...... Forward
P/E of just 6.7 to 2013.
Cheap as chips.
Hornby PLC
FORECASTS WIRES 2013 2014
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
W H Ireland Ltd [W]
08-06-12 BUY 6.40 11.60 5.80 6.90 12.60 6.30
Numis Securities Ltd
08-06-12 BUY 6.20 11.70 4.80 6.10 11.60 5.10
Merchant Securities Limited [W]
11-11-11 HOLD
2013 2014
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Consensus 6.20 11.70 4.80 6.10 11.60 5.10
1 Month Change -0.30 -0.50 -2.20 0.00 0.00 0.00
3 Month Change -0.30 -0.30 -2.20 0.00 0.00 0.00
GROWTH
2012 (A) 2013 (E) 2014 (E)
Norm. EPS 8.41% 44.09% -0.86%
DPS -25.37% -4.00% 6.25%
INVESTMENT RATIOS
2012 (A) 2013 (E) 2014 (E)
EBITDA £m £m £m
EBIT £m £m £m
Dividend Yield 6.33% 6.08% 6.46%
Dividend Cover 1.62x 2.44x 2.28x
PER 9.73x 6.75x 6.81x
PEG 1.16f 0.15f -7.97f
Net Asset Value PS p p p
http://www.investegate.co.uk/Article.aspx?id=201206080700089453E
Frank Martin, Chief Executive of Hornby, commented,
" Despite the backdrop of a challenging market, Hornby is making encouraging progress. Our ability to broaden our product and distribution base will enable us to mitigate to some extent any short term weakness in our traditional hobby sectors. We are pleased that sales of our London 2012 merchandise are gathering momentum. We expect this unique license opportunity to contribute positively to profits in the short term and, through the increased distribution that we gain as a result of our involvement with London 2012, to provide an ongoing legacy benefit in substantially increasing our presence in mass market retail outlets.
" In order to benefit from this increased presence following London 2012 we have developed a number of new ranges with entry-level price points ranging from £2 to £9.99. The first of these ranges is a series of collectable pin-badges based on the Moshi Monsters license.
" There is no doubt that there will continue to be pressure on consumer confidence for some time to come. However we continue to innovate and to seek new commercial opportunities in order to counter the effects of the macro-economic climate in which we are operating."
-ends-
Brokers on side...... Forward
P/E of just 6.7 to 2013.
Cheap as chips.
Hornby PLC
FORECASTS WIRES 2013 2014
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
W H Ireland Ltd [W]
08-06-12 BUY 6.40 11.60 5.80 6.90 12.60 6.30
Numis Securities Ltd
08-06-12 BUY 6.20 11.70 4.80 6.10 11.60 5.10
Merchant Securities Limited [W]
11-11-11 HOLD
2013 2014
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Consensus 6.20 11.70 4.80 6.10 11.60 5.10
1 Month Change -0.30 -0.50 -2.20 0.00 0.00 0.00
3 Month Change -0.30 -0.30 -2.20 0.00 0.00 0.00
GROWTH
2012 (A) 2013 (E) 2014 (E)
Norm. EPS 8.41% 44.09% -0.86%
DPS -25.37% -4.00% 6.25%
INVESTMENT RATIOS
2012 (A) 2013 (E) 2014 (E)
EBITDA £m £m £m
EBIT £m £m £m
Dividend Yield 6.33% 6.08% 6.46%
Dividend Cover 1.62x 2.44x 2.28x
PER 9.73x 6.75x 6.81x
PEG 1.16f 0.15f -7.97f
Net Asset Value PS p p p
Frank Martin, Chief Executive of Hornby, commented,
" Despite the backdrop of a challenging market, Hornby is making encouraging progress. Our ability to broaden our product and distribution base will enable us to mitigate to some extent any short term weakness in our traditional hobby sectors. We are pleased that sales of our London 2012 merchandise are gathering momentum. We expect this unique license opportunity to contribute positively to profits in the short term and, through the increased distribution that we gain as a result of our involvement with London 2012, to provide an ongoing legacy benefit in substantially increasing our presence in mass market retail outlets.
" In order to benefit from this increased presence following London 2012 we have developed a number of new ranges with entry-level price points ranging from £2 to £9.99. The first of these ranges is a series of collectable pin-badges based on the Moshi Monsters license.
" There is no doubt that there will continue to be pressure on consumer confidence for some time to come. However we continue to innovate and to seek new commercial opportunities in order to counter the effects of the macro-economic climate in which we are operating."
-ends-
goldfinger
- 19 Jun 2012 08:19
- 79 of 107
goldfinger
- 19 Jun 2012 08:41
- 80 of 107
Moving up nicely.
Nearly 4% up on the day already.
Olympics should boost this companys
sales and thet got some cheapo trinkets
at affordable prices under a tenner.
Nearly 4% up on the day already.
Olympics should boost this companys
sales and thet got some cheapo trinkets
at affordable prices under a tenner.
goldfinger
- 19 Jun 2012 15:50
- 81 of 107
HRN HORNBY..
lets put some SP targets
to the Brokers BUY notes.....
Hornby Broker Views
Date Broker Recommendation Price Old target price New target price Notes
11 Jun WH Ireland Securities Buy 81.50 135.00 135.00 Reiterates
08 Jun Numis Buy 81.50 108.00 108.00 Upgrades
lets put some SP targets
to the Brokers BUY notes.....
Hornby Broker Views
Date Broker Recommendation Price Old target price New target price Notes
11 Jun WH Ireland Securities Buy 81.50 135.00 135.00 Reiterates
08 Jun Numis Buy 81.50 108.00 108.00 Upgrades
goldfinger
- 20 Jun 2012 08:57
- 82 of 107
Yes rather strange day yesterdays trading. Looked like I was going to be in profit with an hour to go and then out came what I see as stale bulls to spoil the party.
Cant be that many left now and the shorting on the stock is minimal.
So I look forward with confidence but certainly aware of consumer spending overal in a dip but maybe this £2 to £10 cheap range might do tthe trick and turn the stock around. fingers crossed.
Cant be that many left now and the shorting on the stock is minimal.
So I look forward with confidence but certainly aware of consumer spending overal in a dip but maybe this £2 to £10 cheap range might do tthe trick and turn the stock around. fingers crossed.
goldfinger
- 20 Jun 2012 11:38
- 83 of 107
goldfinger
- 21 Jun 2012 13:16
- 84 of 107
Moving up nicely today and recovery intact.
Seymour Clearly
- 21 Jun 2012 15:19
- 85 of 107
Aye. I bought a few yesterday. Couldn't quite get as many as I wanted which was nice!
BTW I'd be wary of that Twitter comment - don't think he's the greatest trader/investor.
BTW I'd be wary of that Twitter comment - don't think he's the greatest trader/investor.
goldfinger
- 21 Jun 2012 15:26
- 86 of 107
LOL yep I have had my doubts for a while. Did have a kick back earlier today he he,
hlyeo98 - 25 Sep 2012 08:07 - 87 of 107
When brokers say buy in June, it meant SELL.
Profit warning.....
Models maker Hornby said the overall business performance is being adversely affected as macro-economic factors continue to depress consumer spending.
Sales of London 2012 merchandise were lower than forecast. Whilst, prior to the Games, major account listings for our products were strong, and consumer purchases were encouraging, the major retailers had also purchased substantial quantities of London 2012 merchandise from other licensees. Faced with lower than expected sales, the major retailers resorted to deep price discounting. The consequence of this for Hornby was that retailers lost confidence in many categories of London 2012 merchandise, and repeat orders for products were cancelled.
In the Trading Update dated 26th July 2012, hornby indicated that one of its significant suppliers in China had informed it of plans to rationalise its manufacturing facilities and that this may result in disruption to shipments. This process is ongoing and it is now clear that the disruption to supplies for the remainder of the financial year will be substantial.
In view of the above, the Directors now believe that the Group will not achieve its forecasts for the current financial year and, therefore, anticipate that the Group's results will be approximately break-even for the financial year ending 31st March 2013.
The group continues to benefit from a strong balance sheet. Net Debt at 31st August 2012 was £7.8m compared to £14.3m a year earlier.
Against a backdrop of continued depressed consumer spending, a combination of lower than expected sales of London 2012 merchandise and the supply chain disruption referred to above the performance of the Group will be constrained significantly in the current financial year. Looking forward, whilst working closely with our existing vendors in China we continue to develop additional capacity in alternative sources of supply.
Profit warning.....
Models maker Hornby said the overall business performance is being adversely affected as macro-economic factors continue to depress consumer spending.
Sales of London 2012 merchandise were lower than forecast. Whilst, prior to the Games, major account listings for our products were strong, and consumer purchases were encouraging, the major retailers had also purchased substantial quantities of London 2012 merchandise from other licensees. Faced with lower than expected sales, the major retailers resorted to deep price discounting. The consequence of this for Hornby was that retailers lost confidence in many categories of London 2012 merchandise, and repeat orders for products were cancelled.
In the Trading Update dated 26th July 2012, hornby indicated that one of its significant suppliers in China had informed it of plans to rationalise its manufacturing facilities and that this may result in disruption to shipments. This process is ongoing and it is now clear that the disruption to supplies for the remainder of the financial year will be substantial.
In view of the above, the Directors now believe that the Group will not achieve its forecasts for the current financial year and, therefore, anticipate that the Group's results will be approximately break-even for the financial year ending 31st March 2013.
The group continues to benefit from a strong balance sheet. Net Debt at 31st August 2012 was £7.8m compared to £14.3m a year earlier.
Against a backdrop of continued depressed consumer spending, a combination of lower than expected sales of London 2012 merchandise and the supply chain disruption referred to above the performance of the Group will be constrained significantly in the current financial year. Looking forward, whilst working closely with our existing vendors in China we continue to develop additional capacity in alternative sources of supply.
mitzy - 25 Sep 2012 09:15 - 88 of 107
Well I did warn in January
hlyeo98 - 25 Sep 2012 13:00 - 89 of 107
Me too in January... intelligent minds think alike.
Seymour Clearly
- 25 Sep 2012 13:17
- 90 of 107
I sold mine in Aug as I thought the stock quality was cr@p and too expensive (and I made a small profit). Not sure if the management are up to it if they allow such rubbish to be produced.
hlyeo98 - 25 Sep 2012 13:36 - 91 of 107
Shares in Hornby fell more than a third on Tuesday after the maker of model train sets issued its third profit warning of the year.
The owner of the Scalextric, Airfix and Corgi brands warned that an expected sales boost from the Olympic Games had failed to materialise, as cash-strapped consumers shunned its London 2012 models that included black taxis, double-decker buses and a Team GB cycling velodrome racing set.
“Faced with lower than expected sales, major retailers resorted to deep price discounting,” the group said.
“The consequence of this for Hornby was that retailers lost confidence in many categories of London 2012 merchandise, and repeat orders for our products were cancelled.”
Hornby shares fell 32½p or 37 per cent to 56p in morning trading in London, the lowest level in more than a decade.
Kent-based Hornby also warned that the decision by one of its biggest suppliers to close several factories in China and the resulting supply chain disruption would wipe out the group’s profits this year. It said it would now only break-even for the 12 months to the end of March 2013; last year the group reported pre-tax profits of £4m.
Full-year revenue forecasts were also cut from £64.5m to £59.1m as the group said it was looking to further diversify its manufacturing base in India and China.
“The disruption is part of a painful process but we believe that, working with all our suppliers, we will be able to work through this process to arrive at a more balanced supply base for the future,” Hornby said.
“It is now clear that the disruption to our supplies for the remainder of the financial year will be substantial.”
Andrew Wade at house broker Numis, who put his guidance on the stock under review, said he saw potential for the supply disruption to persist next year.
Hornby – which makes high-end train sets that sell for as much as £275 – has responded to the financial crisis by introducing a series of lower-price ranges, and broadening its appeal with, such as toys based on the popular children’s television series Olly the Little White Van, as well as a Star Wars-themed range of Scalextric racing sets.
The owner of the Scalextric, Airfix and Corgi brands warned that an expected sales boost from the Olympic Games had failed to materialise, as cash-strapped consumers shunned its London 2012 models that included black taxis, double-decker buses and a Team GB cycling velodrome racing set.
“Faced with lower than expected sales, major retailers resorted to deep price discounting,” the group said.
“The consequence of this for Hornby was that retailers lost confidence in many categories of London 2012 merchandise, and repeat orders for our products were cancelled.”
Hornby shares fell 32½p or 37 per cent to 56p in morning trading in London, the lowest level in more than a decade.
Kent-based Hornby also warned that the decision by one of its biggest suppliers to close several factories in China and the resulting supply chain disruption would wipe out the group’s profits this year. It said it would now only break-even for the 12 months to the end of March 2013; last year the group reported pre-tax profits of £4m.
Full-year revenue forecasts were also cut from £64.5m to £59.1m as the group said it was looking to further diversify its manufacturing base in India and China.
“The disruption is part of a painful process but we believe that, working with all our suppliers, we will be able to work through this process to arrive at a more balanced supply base for the future,” Hornby said.
“It is now clear that the disruption to our supplies for the remainder of the financial year will be substantial.”
Andrew Wade at house broker Numis, who put his guidance on the stock under review, said he saw potential for the supply disruption to persist next year.
Hornby – which makes high-end train sets that sell for as much as £275 – has responded to the financial crisis by introducing a series of lower-price ranges, and broadening its appeal with, such as toys based on the popular children’s television series Olly the Little White Van, as well as a Star Wars-themed range of Scalextric racing sets.
Bones
- 25 Sep 2012 20:35
- 92 of 107
Management seems to have lost the plot. Which of their offerings is unique these days? Only the traditional train products and they are now punted out by Chinese guys on piece work. Not inspiring at all. As always with a company that loses sight of its core competence, it ends up pear shaped. Tempted to short even at this level.
mitzy - 25 Sep 2012 21:36 - 93 of 107
Xmas is 3 months away they could deliver you never know.
Seymour Clearly
- 15 May 2013 06:29
- 94 of 107
Frank Hornby celebrated in today's Google home page.
Stan
- 15 May 2013 06:39
- 95 of 107
I enjoyed Fever Pitch so thanks for that SC -):
Seymour Clearly
- 15 May 2013 07:07
- 96 of 107
Erm ... Nick Hornby. Hmmm.
:-))
:-))
dreamcatcher
- 05 Sep 2014 16:09
- 97 of 107
A page in this weeks Shares - Recovery takes flight.
Orders for Christmas are building.
Orders for Christmas are building.
dreamcatcher
- 06 Dec 2014 07:51
- 98 of 107
Hornby handed worldwide license for Corgi and Scalextric-branded James Bond products, including rights to latest 007 film Spectre
By City & Finance Reporter for the Daily Mail
Published: 22:01, 5 December 2014 | Updated: 22:01, 5 December 2014
The name’s Hornby – Frank Hornby Toys, and the company tends to look after its replica cars better than James Bond cares for his real ones.
007’s all singing, all shooting vehicles are ready for the scrapheap by the time he’s seen off the villain and his henchman, with Daniel Craig as the licenced-to-kill agent.
But Hornby takes more care. And now, the Kent-based firm has landed a worldwide license for Corgi and Scalextric-branded James Bond products, including the rights to the latest Bond film Spectre, which will reach cinemas late next year.
Finger on the trigger: Daniel Craig will continue to play James Bond in the next 007 film Spectre, which will reach cinemas late next year
Corgi’s Aston Martin DB5 from Goldfinger, which starred Sean Connery as Bond, won the first toy of the year award in 1965. The next Bond film, starring Craig in his fourth outing as the special agent, will feature a special Aston Martin DB10 sportscar.
Hornby (up 3.25p at 80.25p) has evolved to include big-name hobby products such as Airfix model kits and Humbrol paints, Corgi die-cast vehicles and slot racing Scalextric.
The company said its new range of products was under development and would go on display at the London Toy Fair in January, with shipments to begin in the second half of 2015.
Chief executive Richard Ames said: ‘James Bond has been a fantastic licensed partnership for our brands going back over 50 years.’
The company said that Scalextric sets featuring 007’s vehicles were always popular with its customers.
By City & Finance Reporter for the Daily Mail
Published: 22:01, 5 December 2014 | Updated: 22:01, 5 December 2014
The name’s Hornby – Frank Hornby Toys, and the company tends to look after its replica cars better than James Bond cares for his real ones.
007’s all singing, all shooting vehicles are ready for the scrapheap by the time he’s seen off the villain and his henchman, with Daniel Craig as the licenced-to-kill agent.
But Hornby takes more care. And now, the Kent-based firm has landed a worldwide license for Corgi and Scalextric-branded James Bond products, including the rights to the latest Bond film Spectre, which will reach cinemas late next year.
Finger on the trigger: Daniel Craig will continue to play James Bond in the next 007 film Spectre, which will reach cinemas late next year
Corgi’s Aston Martin DB5 from Goldfinger, which starred Sean Connery as Bond, won the first toy of the year award in 1965. The next Bond film, starring Craig in his fourth outing as the special agent, will feature a special Aston Martin DB10 sportscar.
Hornby (up 3.25p at 80.25p) has evolved to include big-name hobby products such as Airfix model kits and Humbrol paints, Corgi die-cast vehicles and slot racing Scalextric.
The company said its new range of products was under development and would go on display at the London Toy Fair in January, with shipments to begin in the second half of 2015.
Chief executive Richard Ames said: ‘James Bond has been a fantastic licensed partnership for our brands going back over 50 years.’
The company said that Scalextric sets featuring 007’s vehicles were always popular with its customers.
dreamcatcher
- 06 Dec 2014 07:52
- 99 of 107
mitzy - 10 Feb 2016 09:23 - 100 of 107
Profit warning today.
cynic
- 10 Feb 2016 16:32
- 101 of 107
there is an old stock market adage that says profit warnings come in 3s ..... let's hope for any holders that this is not the case here
mitzy - 11 Feb 2016 11:53 - 102 of 107
I expect another profit warning this year.
hangon - 15 Feb 2016 11:37 - 103 of 107
sp~30p for Hornby looks cheap - until you read the Co statement - Oh dear!
Banking Covenants - statement due MArch2016 - let's hope they've - "got a cunning plan"
Up today - 33p mid.
EDIT (16Feb2016)- Up again, but as others have warned,--- and this does look cheap, but then it's for a Reason. . . . and until that's cleared there may be DfE dilution, so what you paid today could be much lower value.
No-one minds Co taking a loan for maybe 5-10% Equity, ( provided Management really knows what to do with it ), but DfE can be quite nasty since the Bankers have you over a barrel, Also the way I read it, they are importing these "toys", so there is little UK involvement - other one hopes at the design stage - but even that's a shame, since they are copies of "Full-size" items = like Locos.
EDIT- (18July2016)- . . . Oh deary . . . hlyeo98 - surely nobody "plays with expensive trains" – It's a nostalgia-trip and folks buy them “Because they can” ?
+++ IMHO [HRN], needs to develop software ( engines+track ) and features that you buy “on-line” - or swap with friends. Then the physical metal is for “Collectors” only until that market dries up, maybe in the next 20 years . . . HRN Pushing the old-model (ho-Ho) along is going to repeat history . . . . Another ploy would be to put Shareholder names into a hat and draw one Free Model every AGM . . this would encourage large-scale holders to attend. ( Rather than “Speculate” )....sp 28p ( I expect parity with Offer ).
EDIT(12Jan2017)- I see AGM's are at London Br ( Good), but at 9:30AM (Bad!)....also Dir has lost lots as sp fell from 99p to abt 30p... and still no "progressive" News.
Banking Covenants - statement due MArch2016 - let's hope they've - "got a cunning plan"
Up today - 33p mid.
EDIT (16Feb2016)- Up again, but as others have warned,--- and this does look cheap, but then it's for a Reason. . . . and until that's cleared there may be DfE dilution, so what you paid today could be much lower value.
No-one minds Co taking a loan for maybe 5-10% Equity, ( provided Management really knows what to do with it ), but DfE can be quite nasty since the Bankers have you over a barrel, Also the way I read it, they are importing these "toys", so there is little UK involvement - other one hopes at the design stage - but even that's a shame, since they are copies of "Full-size" items = like Locos.
EDIT- (18July2016)- . . . Oh deary . . . hlyeo98 - surely nobody "plays with expensive trains" – It's a nostalgia-trip and folks buy them “Because they can” ?
+++ IMHO [HRN], needs to develop software ( engines+track ) and features that you buy “on-line” - or swap with friends. Then the physical metal is for “Collectors” only until that market dries up, maybe in the next 20 years . . . HRN Pushing the old-model (ho-Ho) along is going to repeat history . . . . Another ploy would be to put Shareholder names into a hat and draw one Free Model every AGM . . this would encourage large-scale holders to attend. ( Rather than “Speculate” )....sp 28p ( I expect parity with Offer ).
EDIT(12Jan2017)- I see AGM's are at London Br ( Good), but at 9:30AM (Bad!)....also Dir has lost lots as sp fell from 99p to abt 30p... and still no "progressive" News.
cynic
- 15 Feb 2016 18:50
- 104 of 107
today's high % rise is actually nothing fantastic in monetary terms and may merely reflect bears banking profits
Stan
- 16 Feb 2016 08:21
- 105 of 107
From what I've heard about these I would avoid.
hlyeo98 - 22 Jun 2016 18:21 - 106 of 107
Nobody plays with train set in this day and age... so dated
Yet another turnaround plan by Hornby (HRN) was greeted with a mute response with the shares down 0.6% to 31.79p. It also announced an intention to raise £8 million via a placing and open offer at 27p.
Yet another turnaround plan by Hornby (HRN) was greeted with a mute response with the shares down 0.6% to 31.79p. It also announced an intention to raise £8 million via a placing and open offer at 27p.
skinny
- 13 Sep 2016 15:19
- 107 of 107
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