Hornby's second profit warning of 2012

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The Independent Online

Hornby, the model trains and Scalextric group, issued its second profits warning of the year yesterday as it said a return to profitability in its international business had not been enough to counter continued tough trading in the UK.

Pre-tax profits for the year, which ended last month, are now likely to come in at "not less than £4.5m". Following January's profit warning, analysts had pencilled in profits of £5m for the year against the £4.1m it made in the year to March 2011.Neil Johnson, Hornby's chairman, said: "The results for the year reflect the impact of a weak retail environment in the UK. However, the performance of our international business continues to improve."

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