Hornby revs up profits

Toy Makers

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.