Hornby hopes for boost from Toy Story 3

Image caption, Hornby hopes its Toy Story 3 Scalextric will help clock up more profit

Hornby, the maker of model trains and the Scalextric slot-car system, says it has made "excellent progress" in the past year and is hopeful of a boost from the new Toy Story 3 film.

The firm said it had cut its debt from £11.8m to £3.2m, although annual profits fell to £5.2m from £6.1m.

It holds rights for products linked to the London 2012 Olympics and Toy Story 3, and expects them to sell well.

Hornby also said it would resume paying a dividend.

Frank Martin, Hornby's chief executive, said: "Demand for our products has remained robust and we enjoyed a strong finish to the year.

"Many of our UK retailers have been keen to re-stock after a strong Christmas trading period."

Total sales rose 5% over the year to £64.7m.

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