CORRECT: Hornby Sees Fiscal 2011 Sales Being More 2H-Weighted

29th Jul 2010 11:31

("Hornby Sees Fiscal 2010 Sales Being More 2H-Weighted," published at 1026 GMT, misstated the fiscal year in the headline. The correct version follows:) LONDON (Dow Jones)--U.K. toymaker Hornby PLC (HRN.LN) Thursday said fiscal year 2011 sales are set to be more heavily-weighted to its second half, as it has stepped up the distribution of its products to larger retailers who buy in stock in anticipation of the peak Christmas selling season. The firm, whose toys include Scalextric racing cars, Hornby model trains and Airfix, said like every year, its full-year result depends on consumer confidence and demand in the pre-Christmas period. Yet it said it continues to trade well and demand for its products remains strong, particularly in the U.K., mainland Europe and U.S. Hornby, whose fiscal year ends March 31, said it has had strong demand for its Scalextric and Airfix ranges in particular in the U.K. Its new Scalextric Start range, which is priced cheaper than standard boxed sets, has also proven a hit with retailers targeting thrifty consumers. The firm said many of its European competitors continue to experience financial difficulties, which it says offers significant scope for growth and market share gains in Europe. Hornby said sales of its London 2012 Olympic Games-themed Corgi car models have so far been very encouraging, particularly in London. It is now also selling its Olympic range in up to 1,200 BP Garage forecourts across the U.K. and expects to be able to continue broadening the distribution base of its London 2012 merchandise. -By Hannah Benjamin, Dow Jones Newswires; 44-20-7842-9298; [email protected] (END) Dow Jones Newswires July 29, 2010 06:31 ET (10:31 GMT)