Iconic collectables firm Hornby says sales and profits are up after cashing in on Black Friday and Christmas trading.

The Margate-based firm reported the positive results of trading between the crucial Ocotber 1 to December 31 period.

It reported group sales were 7% ahead of the same period last year with gross profits for the financial year ahead by 10%.

It said a “strong programme of activity around Black Friday and Christmas” contributed to 23% revenue growth and 38% gross profit growth versus last year for the month of December.

It said almost 50% of all Black Friday transactions came from first time customers, up from 42% in 2023.

Net debt had also dipped - down from £18.8m at the end of September to £18.2m.

It says its current forecast for the year ending March 2025 remains “on track for year-on-year growth”.

The firm laid off a number of staff at its Kent site last year - and warned more could go in 2025 as it seeks to implement its turnaround strategy.

Olly Raeburn, Hornby CEO, said: “In a tough economic climate, we are pleased to be able to report growth in revenue, margins and gross profits through this critical quarter.

“Concurrently we are continuing to drive down the inventory levels that had built up in recent years and are delivering our change plans in a steady and sustainable way.

“Our turnaround is very much on track as we further reduce central costs, focus on our core brands and improve operational processes across the business."