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Coronavirus impact: 29 Oct - red flag report doesn’t bode well, but it’s not all gloom

29/10/2020 · Begbies Traynor (BEG)  · Elixirr International (ELIX)  · Marlowe PLC (MRL)  · PROACTIS Holdings PLC (PHD) 

AIM Coronavirus UK

Hornby train

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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