Thankfully an £8m fund raising at 27p per share back in July 2016 has strengthened the Balance Sheet and given new Hornby CEO Lyndon Davies some breathing space. Mr Davies, is current Chairman of Oxford Diecast, a business founded in 1993 and he remains the majority shareholder of LCD Enterprises Limited (“LCD”), the ultimate owner of the Oxford Diecast brands. With its focus on diecast vehicles, aircraft and, more recently, rail based products he has built Oxford Diecast into a successful international business. However, with revenues of only £4m for its last full financial year ending December 2016 Oxford Diecast is a far smaller enterprise than Hornby which had revenues of £47m in its last full financial year….and a host of other problems. More positively, unlike Hornby, which has accumulated sizeable losses over the past few years, Oxford Diecast thankfully has a history of profitability, which is generally a nice place to start!
Hornby’s trading update on 6 September 2017…
Register to continue reading this article.
Already a member? Login
For access to the top news and insights from the investment worldREGISTER FREE TODAY