My name is Bond James Bond
10 Feb 2016
Re: Don't get fooled Hornby used to make decent profits on less turnover. It all seemed to go off the rails when the Corgi purchase was made in 2008. They have also lost the staff that understood the business and upset bricks and mortar stockists with the Hornby focus on selling direct online. And what about the 2016 "catalogue" if it can be called that? The Radio 5 toy expert interviewed today said that for the price of 2 locos you can buy a games console. That issue needs to be addressed and quickly! Hornby no longer offer pocket money hobbies. Only the rich and wealthy can now afford much of what Hornby has to offer. The pocket money hobbyists visit ebay. RegardsDublo 7
idontwanttolose
10 Feb 2016
Re: Don't get fooled You were right!!Financial Performance The Group now expects to report a substantially wider trading loss than previously forecast in this current financial year. The team has also conducted a full stock take at the Group's consolidated warehouse in Hersden and a balance sheet review following the reorganisation of the European subsidiaries which will result in a £1.0m write off. The disappointing sales performance experienced in the New Year is expected to result in a trading profit deterioration of between £2.5m - £3.0m, with approximately half due to UK performance. In total the Group is now expecting to report an underlying loss before tax in the range of £5.5m - £6.0m, which represents a substantial setback in our recovery plan for the business. As a result the Directors consider there to be a risk that the Group will breach a covenant of their banking facility in March 2016. The Group has enjoyed a long and supportive relationship with its lender, with whom it is currently in discussions.
BOWOOD
09 Dec 2015
Re: Don't get fooled Hornsby is yesterday's interest. Kids today are not interested and yesterday's child buys rolling stock etc from eBay. May be worth 50p IMO
MoleMan99
10 Nov 2015
Don't get fooled I don't think anyone is left here interested in investing, but if there is it is probably time to proclaim this is in terminal decline now.Best not get fooled by the siren song hidden inside the trading statements, this up, that up, James Bond, hope for the future, etc.Go to any model shop. They will tell you the truth. You don't need to hear it from me.Leave the shares to the few large owners now and let them get what they can from it. For those who love their models and childhood memories, brand Hornby/Scalextric/Airfix will survive, I just think Hornby PLC will eventually fall apart or delist. No future for true investors.Over and out.
MoleMan99
16 Sep 2015
Debt £8m from placing to pay off debt. Debt down by only £3.6.They can't of blown another £4.4m in a few weeks?It's becoming like a tiddler miner explorer, constantly requiring shareholder cash to keep it above water in the hope of a great future.
MoleMan99
14 Sep 2015
Re: Time for a takeover? The thing to watch for in next accounts is they show actual revenue growth, but the margin is declining.Shop contacts tell me they are delivering brand new toolings, then ringing up 4 weeks later and flogging off the stock at a big discount. One asked why they were doing it. To hit qtr targets was the answer.Not the best way to preserve your brand.
numberbiter
14 Sep 2015
Re: Time for a takeover? I cannot see a glorious future for the company as revenue growth is the only way they can get the debt down. But there is no evidence of this happening.
MoleMan99
24 Jun 2015
Re: Time for a takeover? It is difficult to see industry competitors taking them over at this price and definitely not if it means a premium to get the deal, or even Pheonix asset wanting to stump up for the other 70% at a premium to this price.The difficulties will probably continue as the placing does not actually clear the debt. They were frantically shipping anything to retailers pre YE, even airfreighting stuff in (spending the profit), so sales this first qtr have probably been slow. They had to make a good show of sales or they would not get the placing away and without it they are bust, which is a shock to me. What a sad decline for a brand that should be a simple reliable div payer for long term investors.I think the current management will fritter away the remains of the placing on wild digital schemes invented at the trendy Shoreditch office by kids with no experience of models and hobbies. See their Airfix 'Kitstarter'. A noble enough idea but modellers don't want a naff old kit of Blue tits. They want a retooled kit of military vehicles. With the money invested in that digital venture they could of tooled a new item and sold it. They are making a simple business needlessly complex.I would look at all this as a competitor and think maybe I can turn it around and make £4m a year. I'll pay £40m therefore. Divided by the enlarged share capital it comes to 75p a share, so you can see why a takeover may be tricky.Now watch the offer come in at 150p next week.
secret name
23 Jun 2015
Time for a takeover? As Phoenix Asset Management now has 29.58% of Hornby, should we expect a takeover now or after the placing?
MoleMan99
20 May 2015
SP Definite run up in the price in this illiquid share. It must be more than general optimism over trading as not much has changed really. Perhaps expect to see some announcement regarding turning the Margate site into cash somehow in the FY release due in June?
My name is Bond James Bond
06 May 2015
Re: Back to Profit Profitability is good news. Be interesting to see how the new team move forward from here now that they are no longer suffering from Chinese walls and no longer outsourcing production to a single company which ultimately had its own problems. Still think the initial benefits of a move to China 15 or so years ago were a one off and that Hornby will struggle to achieve the sort of profitability seen in the mid 00's but I would gladly be proved wrong and wish the team good luck.RegardsDublo 7
steamingdave
03 May 2015
Back to Profit At long last, some positive news.[link]
MoleMan99
17 Mar 2015
Another nail Still no sign of a reason to reinvest here[link] a struggle to find anyone who likes them. An amazing job really considering they have much loved brands.Well done.
MoleMan99
11 Feb 2015
Debt From that trading statement, they can't shift the debt despite rising income, so their answer appears to be more debt. Some hint there in the last sentence too of diluting PI's then maybe delisting. Not at first, but eventually.Not very inspiring really. Such a shame as it could of been a tidy cornerstone of a long term pension plan.
MoleMan99
25 Nov 2014
Re: Mercedes F1 Hamilton news There is a chance of some news driven gain here I will admit. Scalextric sales are notorious for being a rollercoaster and Hamilton's victory will most likely put it on an up trend for a while.Additionally, the gossip doing the rounds at Warley was that they are moving ahead with plans to redevelop the Margate site. Will cause a bit of excitement, but the full value of the site is already on the books.For now, I still lack confidence in their overall strategy. The ability of the replacement young team to pick the right items to make, the ability of the manufacturers they have to produce the quality the modellers expect and the ability of the management to stay firm on margins and generate profit instead of turnover that just about covers their salaries.It has become a fine company for employing people and a lousy company for investors.Good luck if you dive in at this price, but the traders may get lucky in the short term. I can't be bothered with the worry.
