Hornby revs up profits

Toy Makers
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Hornby, the maker of the Airfix and Scalextric products, has revealed its profits will be ahead of market expectations for the year to 31 March, driven by a significant reduction in inventories, purchased at more favourable exchange rates.

The toy maker has resumed its dividend payment. The broker Numis upgraded its profit forecast forthe year to £5.7m from £5m. Hornby is "delighted" at sales of its recently launched Corgi models of a London cab, left, decorated in the 2012 Olympic designs.