Hornby rallies on licensing agreement with Warner Bros
Hornby shares rallied on Monday after investors received some much-needed good news as the beleaguered model train set maker announced a licensing agreement with Warner Bros Consumer Products.
FTSE AIM All-Share
771.53
17:14 03/05/24
Hornby
30.00p
16:55 03/05/24
The AIM-listed company did not disclose any financial details but said the agreement will see the release of a broad range of products across a variety of Warner Bros and DC franchises, developed under several of Hornby's key brands.
As part of the agreement, a variety of model railway and slot car sets will be released, together with die-cast vehicles under the brands of Hornby Railways, Scalextric and Corgi. Hornby - which has suffered a slew of profit warnings in recent years - said the product range will feature a selection of Warner Bros' and DC's most iconic franchises, including Harry Potter, DC's Super Heroes, and other fan favourites.
Chief executive officer Lyndon Davies said: "Having access to these perennially popular franchises will provide Hornby with the opportunity to apply our ability in developing and delivering a desirable range of products that will appeal to fans of the many Warner Bros. characters and DC Super Heroes."
The first products to be released under the partnership will be on display at the London Toy Fair in January 2019 and at all of the Hornby Hobbies previews.
At 1222 BST, the shares were up 20% to 37.66p.