Hornby on the wrong lines over China deal

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

China's Sanda Kan makes half of the hobby group's kit — an over-reliance chief executive Frank Martin is looking to fix. Hornby says Sanda has faced "serious financial problems" in the past year because of a heavy debt burden.

"We are not very pleased with the way our supplies have been disrupted," said Martin. Hornby today axed its final dividend, leaving only the interim payment of 2.7p, down from 8.5p last time.

Martin said investors back his move to protect the balance sheet during tough times. Peter Wood, the Direct Line pioneer, holds 11% of the stock.

Profits in the year to the end of March fell from £9 million to £6.1 million on turnover up 11% to £62 million. The shares, worth more than 280p two years ago, were today steady at 79p.