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.
It said 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 and our London 2012 Games range of merchandise is proving to be increasingly popular."Reuse content