Hornby disappoints with dividend smash

Model maker Hornby, the model and toymaker, has scrapped its dividend following poor interims, saying that its performance in the current financial year will be "approximately break-even'.

Model maker Hornby, the model and toymaker, has scrapped its dividend following poor interims, saying that its performance in the current financial year will be "approximately break-even'.

For the six months ended September 30th revenues were £27m (2011: £28.3m) producing a pre-tax loss of £0.54m compared with a pre-tax profit of £0.96m in the first half of 2011.

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