Olympics wipe out Hornby’s profit
Overstocking of London 2012 souvenirs and poor supplies of model trains saw Hornby’s profit wiped out last year. Despite selling almost £5m of Olympics-based products, it had to discount prices heavily as shops failed to re-order models. The company scrapped its dividend as it posted a £3.4m loss.
Trade set to boost growth
The UK’s goods trade deficit tumbled £1bn to £8.2bn in April, making it the lowest since January. Including the services surplus, the overall deficit shrank from £3.2bn to £2bn. Net trade knocked 0.1 percentage points off the economy in the first three months of 2013, but could buoy growth in this quarter.
Fullers pride in cider purchase
Fuller, Smith & Turner is looking to expand cider maker Cornish Orchards after buying the business for £3.8m. The London Pride brewer unveiled the deal as it hailed the improved weather for helping to drive recent sales. It posted a 5 per cent rise in profits to £32m for the last financial year.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies