[WWI] Hornby - not doing that well

[Michael Kendix]

Dave:

Thanks for the elaboration and explanation.

Yes, the article said that profits didn't meet expectations, not that they 
weren't making profits. Still, I am guessing the market knew of the Airfix 
acquisition and dollar drop issues prior to the figures being announced, 
hence the drop in share price. Why is the dollar drop a problem?  Is the US 
their major market?  If so, obviously I understand. I thought Japan was the 
biggest model market.

Michael


>From: dave fleming <dave.fleming at dial.pipex.com>
>Reply-To: World War I Modeling Mailing List <wwi at wwi-models.org>
>To: World War I Modeling Mailing List <wwi at wwi-models.org>
>Subject: Re: [WWI] Hornby - not doing that well
>Date: Sat, 02 Jun 2007 00:44:35 +0100
>
>They got hit by the falling dollar and the unexpected aquisition of Airfix.
>Year on year, perhaps not as strong as expected, but still a hell of a lot
>better long term than before.
>
>Airfix tool making has been sourced from around the world for a while - 
>H*wks &
>TSR2 in China, Lifeboat in Portugal, the N*mr*d and C*nB*rr*s are being 
>tooled
>by Trumpeter. What Hornby are doing is moving all production to China (The
>paints have been made there for some time) - previously most (but not all) 
>was
>done at heller in France. Hull had been a distribution centre only for a 
>number
>of years.
>
>Dave

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