Great results, although it seems that Honby's sales in the US have declined for the third successive year.
From the Chairman's review:-
"Sales of Hornby railway products increased again during the first six months, buoyed by an enlarged range of Live Steam locomotives and additional liveries of our Q1 and Class 50 locomotives. During the second half of the current financialyear we expect to see strong sales of the retooled A4 locomotive and the new range of "Teak" coaches.
Scalextric sales also increased, supported by the introduction of the MotoGP motorbikes and sets.
During the second half of the current financial year we expect to experience strong demand for the newly introduced Scalextric Digital system.
I am also delighted to announce that a number of new licences have been agreed which we believe will underpin further growth in Scalextric sales in future financial years. Most notable amongst these licences are the rights to produce Scalextric models based on Ferrari road and competition cars, including Formula 1.
Sales growth in the UK during the first half of the year has come from all our channels of distribution. In particular, in-store concessions in the UK have shown impressive sales growth of 60%. Between 30 September 2003 and 30 September 2004, the number of these outlets grew from 70 to 121.
Export markets continue to offer significant scope for growth, although some markets, notably North America, have experienced difficult trading conditions during the past six months.
Nevertheless International sales have also increased during this period. The Company has continued to benefit from the relative strength of Sterling against the Hong Kong Dollar, the currency in which the majority of our products are purchased."
