Hornby PLC (LSE:HRN), the model train maker that counts Mike Ashley’s Frasers Group PLC (LSE:FRAS) as a major backer, saw its profits increase by 10% year on year in the five months to 31 August.
Frasers owns 8.9% of Hornby’s outstanding shares, having upped its stake by 11.1 million shares in February.
Hornby’s products are stocked in Frasers-owned GAME stores, with Ashley personally acting as a strategic consultant to the group.
In a Wednesday trading statement, Hornby said: “As is usually the case in our industry; the outcome for the full year is subject to the sales rate in the run up to the key Christmas trading period.
“Our outstanding order book is strong with new products still to be released.
In addition, D2C (direct to customer) invoiced sales are up 11% on prior year and 56% up on the same period in 2022.”