Ferrari sign to Scalextric - 12th November 17:57pm GMT

Model railways and Scalextric group Hornby today hailed a licensing deal to make miniature Ferrari cars as it said its profits had raced ahead by a fifth.

Margate-based Hornby said it had secured the rights to produce Scalextric versions of road and competition cars, including Formula One, made by the prestigious Italian marque.

The company said the deal was one of a number that it believes will underpin further growth in Scalextric sales in future financial years.

Hornby said group pre-tax profits had risen by 20% to £2.6 million in the first half of the year to September 30 on the back of a similar rise in sales of the Hornby and Scalextric brands to £19 million.