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Poor old hornby, one of the best christmas presents i ever got as a child a red freight train and oval track... Transformer that smelt a bit funny and had so few controls that i doubt kids today would understand as it was so simple. My first paper round wages...if you could call them that.. Went on a set of points from beatties over in lewisham... I was so tired by the time i got home that i fell asleep on my bed before i could set up my siding. Wish i didnt get the estate with all the flats to deliver endless copies of the sun and mirror to at six in the morning. I bet theres millions of people out there who have such great memories of hornby, scalextrix and airfix kits... Half the issue with hornby is and has been their brand management, a very poor ecommerce offering, they just dont reach out to people who should be buying their ranges for their kids, grandkids etc... A marketing opportunity missed and its people in my age group that would buy them for their kids... The quality has slipped, and so has the imagination behind the brand and the product ranges... Firms like marklin stayed on top because they innovate and adapt their brand offering. Gonna be a big job getting retail shelf space and rejuvinating the brand, if i read they were to reconnect with their old customers, and underpin their sales with their brand heritage i think they would have a great chance of putting this back out there, and with a bit of interaction on their website they could quite easily video consol some of the brands, certainly track design, lap speeds etc.. By just giving a youthful audience that bit of user interaction it expects these days.. I do hold a few shares here just realky for memory sake, wish i kept my train set it was a well built piece of model engineering, it was amongst the happiest of times for me as a child. One day be great to see this back where it should be, every childs dream, every dad and granddads instant return to their own childhood, even just for a short while. Come on hornby be great again for your old customers. Imo.
Finally, some good news. It's a good start and a step in the right direction now.
http://www.thisismoney.co.uk/money/markets/article-4398988/Hornby-chairman-faces-calls-quit.html
Very nice turnaround... indeed... see how it opens.
Hornby trading statement covered today by Trader Tim - I have to agree not a clear update today. Mixed language. It is almost as if the BOD want investors to forget about the profit warning. http://buff.ly/2lk8RfK
a wee bounce.
This is probably why Hornby are in their current predicament..... And why they will not survive. I bought a Hornby "Tornado" train set for my son for Xmas. I also dug out my old Hornby "Flying Scotsman" Engine (which still works some 30 years on) from when I was a boy. The difference between the two is startling: the "Flying Scotsman" from 30 years ago is built with quality parts, feels substantial, and is robust. By contrast, the latest model is flimsy, is made from the cheapest plastic imaginable, the metal connectors and couplers are made from the thinnest plastic/metal they could possibly get away with. The power unit is appalling... Then it looks like they employed a Management Consultant company to try and cut costs even further. This latest offering was sold as a Premium product! What a shame, and what an appalling product. Just reminds me of other companies I.e. chocolate manufactures who reduced the weight of their products and introduced cheaper ingredients, whilst raising the price and spouting nonesense about improving "the experience". The only thing Hornby are living off now is their Brand and their perception of quality. The company will not survive long selling exceptionally poor quality products such as the one I just bought. I expect a lot of disgruntled parents will be returning a huge quantity of purchases this year, which will have a massive impact on the Companies financials. I was going to buy shares here on a recovery.... but I don't think they can recover - they do not have a "fit for purpose" product anymore. STRONG SELL.
I'm not so sure the bottom share price has quite been reached on this yet. This recent news article doesn't fill me with confidence in Hornby making good profits despite the turnaround plans. I myself may look to buy back in at sub 25p ... http://www.kentonline.co.uk/kent-business/county-news/hornby-bosses-warn-of-declining-116307/
When is or when was the ex entitlement date for the open offer?
I will probably buy the open offer.
AKGREEN, you may have made a good move!
Thanks for that Intel. May top up a little if SP holds.
Good luck, AKGreen.
GoldD, you still about?
anyone still here? Any comments? Good time to get in / out?
surely?
Opportunity if ever I saw one !! IMHO DYOR etc etc
Well, I think the oversell has now been compensated for and tomorrow may be a good time to sell and take profits if it gets to 40p
The RNS was so negative. When a covenant is breached the next set of banking terms are not as good, i.e. higher interest and penalties. The companies revenue is the same as its Market Cap. It will take at least 2 years to turn around. Buy and hold for 2 years and expect a placing very soon.
I signed it Saturday last, still awaiting a reply.
a lot higher if you signed this https://petition.parliament.uk/petitions/112044
No more to do with market liking director resignation. Then shorts closing .as this is good news
Badly oversold. Hornby will either get a new banking covenant or be subject to a takeover. Bought at 22.75p and hope to sell next week at around 30 - 35p.
If the banking covenant is breached in March...... Just a few weeks away (see latest RNS), then these may be worth 0p.