Hornby Share Discussion Threads

[castleford tiger] 23/4/2024 10:54

looks 50% over valued to me on those numbers.

tiger

[clocktower] 22/4/2024 15:04

"Financial Position

Net debt as at 31 March 2024 was £14.3 million compared to net debt of £5.5 million at the end of March 2023 mainly due to the trading loss and capital expenditure. This does, however, show a slight improvement from £14.6M at the half year. Stock has reduced by 12%, or £3 million, since the half year, and is slightly lower than March 2023."

With Net debt at £14.3 million, that is an extra £8.8 million to March 2023, so even if you took off another £3 million off, that is still £11.3 million of dead weight plus interest being accrued. Although stock has reduced by £3 million since the half year, it does not follow that they have reduced the debt by that amount, as they may for example offered extended payment terms to reduce the stock and increased the amount owed to the company by customers, or they may have discounted the stock just to unload it to reduce debt a little. Until the full numbers are available the jury is out on that one.

[holts] 22/4/2024 09:10

The competing businesses are getting a bigger slice . Hornby hale the increases in direct sales , wonderful , so the margins should be much higher , but no .
Isn’t it odd that Hornby made the most money when they concentrated on supplying the trade , it was their own stupid decision not to buy the Chinese factory that has lead to continuous upheaval since with a variety of the clueless being shipped in to run the business .
We used to be the top seller in our region , I still have the print out I picked up when down at Margate that year of the turnover by trade customers . Have they ever done anything to get our business back ? no , entirely the opposite , now it’s too late .

[clocktower] 22/4/2024 08:22

Another dismal RNS and MA has got himself another pup, like MUL. He like most of us makes mistakes also but at least they are affordable, like they should be to any gambler.

What’s funny is blaming the Red Sea situation, when they are grossly overstocked anyway.

2% increase with inflation running at many times that over the past twelve months, plus they increased their prices substantially, so they must have sold a lot less units, which goes to suggest the market is shrinking or it’s competing businesses are getting a bigger slice of the market.

[holts] 20/3/2024 16:18

I’m surprised their a average is that low .

Ashley is a good retailer , I don’t think a small specialist niche business is suited to his skills , that’s always been the problem it’s never going to be big business , but often individuals arrive who believe it can be something else , it can’t .

However it will be interesting to see what evolves.

[1tx] 20/3/2024 11:18

Castelnau,the listed investment company,that owns the larger part of the Phoenix holding has a cost price of their Hornby shares of just over 40p.Castelnau's biggest investment is in the Dignity funeral business & they also own a large part of the revived Stanley Gibbons outfit.Phoenix/Castelnau best described as a group that buries the dead & hopes to bring dead businesses back to life!

With Mike Ashley it is all about "The Brands";and I do think there is considerable potential in usage of Hornby brands in other fields than pure model sales.

[holts] 28/2/2024 17:14

Love to know what Phoenixes average is .

[clocktower] 28/2/2024 15:34

Decent volume again and a solid new base seems to be forming.

Will MA add to his stake at this price?

[holts] 26/2/2024 19:35

Could be clock , hadn’t thought of that, although I thought HRN were nuts buying that , however that’s cos I’ve watched them buy all sorts of looney things over the years , Fletchers speed boats being a humdinger .

[arthur_lame_stocks] 26/2/2024 19:00

I thought Mike Ashley just like buying faded brands and trying to rejuvenate them. This looks a bit out of his usual type though.

[clocktower] 26/2/2024 16:43

It's more about the stake Hornby took in Warlord I suspect.

MA must see some millage in the Game business going forward.

[holts] 26/2/2024 12:41

I would say it’s a case of mistaking it for a toy business rather than a niche hobby business .

[clocktower] 26/2/2024 11:59

applied1 I am not so sure that you can say they are being snapped up cheaply, as most are loss making, and bear in mind that it is only asset strippers that can see value, and some of those are not successful either.

Maybe Frasiers are oe of the few that can help to add value here but they never did that with their holdings in MUL for example.

[applied1] 26/2/2024 10:01

Hello Clock ,hope your OK,wish the would happen to MTC,I see a lot of companys in retail being snapped up cheaply ,any thoughts.

[clocktower] 24/2/2024 15:03

Sports Direct to Toys on the Train Line - “Toys online” HOLTS.

[clocktower] 23/2/2024 16:17

Maybe MA fancies becoming the station master ar Hornby.

[glavey] 23/2/2024 09:58

Trains to trainers? (Or vice-versa)

[clocktower] 23/2/2024 09:25

That was a huge surprise HOLTS.

A big help to Phoenix.

[ny boy] 23/2/2024 08:19

Interesting stake by Fraser Group, keep a watching brief here, quite a good rise off the lows, one to watch imo

[holts] 23/2/2024 08:11

I bet Phoenix would delight in Frasers buying them out , they must have had a guts full .

[holts] 30/1/2024 10:37

I wonder if those buying had any idea what Hornby had to do to generate trade sales over Christmas period ?

[clocktower] 17/1/2024 09:43

Well they are trying to dress up todays TS as good news but it goes to show that even though they increased prices by a huge amount, that unit sales must have take a huge dive, and bearing inflation in mind a tiny increase in value will not cover the cracks in the foundations.

[holts] 08/1/2024 22:02

Hornby have rowed back on their disastrous tiering system for retailers , unfortunately damage has been done , it gave a huge helping hand to new smaller manufacturers, coupled with them competing with their own retailers they have scored too many own goals .

[nov31] 24/11/2023 06:19

No light at the end of the tunnel here - the share price moves inexorably inversely to the retail price on their OO gauge steam engines! Penny share soon DYOR