Hornby gains licence to thrill with James Bond`s return to Scalextric
06-Jun-2008 • Collecting
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Hornby, which in May announced the £7.5m acquisition of classic model car maker Corgi, said the new product would be in stores in time for the all important Christmas sales period.
Chief executive Frank Martin said: "It is the first time we have had a Bond licence for 10 years and we are very pleased. We hope to have a range of products on the shelves, including half a dozen cars in the digital, analogue and micro format."
Included amongst the miniature models will be iconic Bond cars, the Aston Martin DBS and the Alfa Romeo, echoing a chase scene from the forthcoming Bond film, set for UK release on November 8 and starring Daniel Craig as the British secret agent.
Sales in Hornby's Scalextric slotcars and Formula 1 racing car sets are enjoying something of a boon on the back of Lewis Hamilton's prodigious rise in the world of motor sport.
The British 23-year-old is back in the driving seat of this year's F1 championships after victory in the Monaco grand prix.
"The Hamilton effect is really very big and is largely responsible for a 23pc rise in slotcar sales last year," said Mr Martin.
"His return to form has generated a lot of interest. If he wins the title this year, it will be good for sales.
"We are now hoping that the new Bond range will be the icing on the cake."
Mr Martin was speaking as Hornby published its results for the year ending March 2008 which revealed a 19pc rise in total sales to £55.7m and a 17pc rise in pre-tax profits to £9m.
The figures included a first full-year contribution from model maker Airfix - bought in November 2006 - and Humbrol, the model paints business.
Mr Martin said both Airfix and Humbrol were now fully integrated into the company's business model and had produced sales ahead of expectations.
Despite the current retail climate, Mr Martin said the outlook was rosy for Hornby. "At the moment, the general economic downturn is not having any impact on sales. We've had another year of outstanding growth and our listings with major retailers are stronger than ever."
"History shows that the hobby market is the last area to suffer in tough times," he added.
The company's principal aims for the forthcoming year remain the re-invigoration of its famous hobby brands and the expansion of the company's geographical presence through its European subsidiaries.
Hornby said its plans for re-launching Corgi were well advanced and that it was confident it could quickly restore sales to their historically high levels.
Shares in Hornby fell 6 to 169p in morning trading.
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