The latest red flag report from a leading business recovery group featured here suggests a tidal wave of insolvencies could be looming. Thankfully, a leading hobby products group also covered here appears to be out of the recovery room, with a first profit in many years. Read on for this and other views.
Hornby: moves into profitability
Interim results from
Hornby (LON:HRN), the hobby products group controlled by
Phoenix Asset Management, reported a first (albeit small) profit in many years.
Group revenue for the six months ending 30 Sept 2020 rose 33% to £21.1m with a statutory profit before tax of £17,000, compared to the £2.5m loss of the comparable period.
Hornby Group has some terrific brands, including Airfix, Corgi, Hornby, Humbrol, Jouef and Scalextrix, with CEO Lyndon Davies of…
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