Live updates

Toy firm Hornby suffers losses after poor Olympics sales

Toy firm Hornby is returning some of its production to the UK after suffering annual losses following issues with their supply chain and poor Olympic sales.

The firm posted pre-tax losses of £3.4 million after "disappointing" sales of London 2012 merchandise and problems with Chinese suppliers.

The toy firm is returning some production to the UK after slumping to annual losses amid supply chain woes and its Olympics sales flop. Credit: Stephen Kelly/PA Wire

Hornby will begin to make a new range of Airfix Quickbuild model kits in Sussex, and will move some of its Humbrol paint production back to the UK.

The company, which employs around 250 people, insisted it was in a "strong position to face the future" despite the losses.