QuickView: On track
Hornby has reached an interesting point in its recovery. The new senior management team has upgraded management, improved the supply chain and returned the business to profitability. It will now be refinancing borrowing facilities and perhaps raising equity to accelerate the recovery programme, which might provide a buying opportunity.Hornby is a holding company. Co.'s principal business is the development, production and supply of toy and hobby products for a global market, through a series of brands. Co. operates across five product categories in the toy and hobby market for scale models. The five product categories are model rail, slot car, plastic modelling, collectable models, and spacialist paints. Co.'s products are distributed through the following channels: U.K. Independent specialists, U.K. National retailers, its European businesses in Spain, France, Germany and Italy, via export with its international distributors and through Hornby Inc. in the U.S. Other channels include Co.'s internet and retail operations.
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