Toymaker Hornby plans to cut the number of toys it makes as it strives to make the business profitable again, BBC reports.

 

The firm, whose brands include Scalextric, Airfix and Corgi, said it would reduce the number of individual product lines by 40%, but said it would keep its most well-known toys.

 

It plans to raise £8m via a share placing to fund the restructuring.

 

The plans come after the firm reported a £13.5m loss in what it said was a "difficult and disappointing year".

 

The model trainmaker reported a £200,000 pre-tax loss for the 2015 financial year.

 

Chairman Roger Canham blamed the poor performance on the implementation of a new software system and supply chain issues due to the reorganisation of its European business.

 

Photo: BBC

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