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The company’s revenue fell 25% to £35.7m in the 12 months to March, taking losses from £9.5m to £10.1m. It issued a profit warning in October last year, following two previous warnings within the span of 18 months four years ago. UK based, Phoenix Asset Management now has controlling stakes in Hornby and Stanley Gibbons. Phoenix has £800m of assets under management, with stakes in low-cost airline Easy Jet, housebuilder Bellway and retail group Sports Direct in its flagship £220m Phoenix UK Fund. It now also has controlling stakes in two of the best known hobbyist companies. It owns 75% of Hornby which also encompasses the Scalextric and Airfix brands, and 58.1% of Stanley Gibbons. Current builds:-C57,Zero, Lamborghini Countach, Caldercraft HMS Agamemnon,Robi,R2-D2, MFH Cobra .
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I am surprised its revenue did not fall even more, most of 2017/18 it had very little range on sale “Whenever you find yourself on the side of the majority, it is time to pause and reflect.”
-Mark Twain
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 Rank: Pro Groups: Joined: 24/08/2009 Posts: 48,827 Points: -13,348
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jase wrote:I am surprised its revenue did not fall even more, most of 2017/18 it had very little range on sale And don't forget that during 2017 to March 18, Airfix was heavily discounting and still made a 25% loss, which is why the new owner called a halt to it.
Question now is, what will the loss be for March 2018 to March 2019?
Because if they made a 25% loss by heavily discounting to sell volume across 17/18, then its unlikely they will turn a profit by putting prices back to normal, and the re-boxing of age old kits won't be their saviour either.
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Rank: Pro Groups: Joined: 24/08/2009 Posts: 48,827 Points: -13,348
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Link doesn’t go to the story “Whenever you find yourself on the side of the majority, it is time to pause and reflect.”
-Mark Twain
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Rank: Pro Groups: Joined: 24/08/2009 Posts: 48,827 Points: -13,348
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jase wrote:Link doesn’t go to the story Seems the FT page link won’t go to the story, Google “Hornby veteran steps up to become chairman“......
John Stansfield has taken on the role of Chairman and been at Hornby for 31 years, 12 of which as finance director. He was previously a non-executive director and will replace chief exec Lyndon Davies, who was interim chairman. Stansfield is the company’s 3rd chairman since June 2017
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