Hornby Share News (HRN)

British model railway and Scalextric maker Hornby halved its losses in the first half of the financial year by increasing sales and improving its ranges.Hornby made a £520,000 loss in the first half, representing a turnaround after a loss of more than £1m in the same period a year ago.The firm attributed the positive results to an 18% rise in sales of model rail products rose 18% along with the launch of a new range of products ahead of Christmas, including the Scalextric Quickbuild Cops'n Robbers set and the Airfix 1:24 Hawker Typhoon Mk1b model.In recent years, Hornby has struggled with supply chain issues following a decision to outsource manufacturing to China in 1995.The majority of the company's model production remains in China, but it has resumed some manufacturing in the UK. The group said it had no plans to move any more production back to Britain at the moment.Chief executive Richard Ames said: "We are encouraged with the advances that the group is making. During the first half of the year, the team has made material progress in organising the turnaround of the company."Looking ahead, the results for the full year will depend on the success of the Christmas trading season. Current indications are that it will meet our expectations."