LONDON (ShareCast) - (Sharecast News) - Shares in Hornby came off the rails on Wednesday after the toy train specialist announced it was temporarily halting overseas orders because of the ongoing uncertainty around post-Brexit trade.
In a tweet, the company said: "Due to the uncertainty surrounding Brexit and what it'll mean for our international customers, as of 15 December we will pause all non-UK orders until 4 January 2021.

"We hope you can understand the difficult position we are in and remain patient with us until we can find a solution."

Shares in the London-listed firm, which also makes Corgi cars and Scalextric racing sets, fell 9% following the statement, to 51.99p.

The transition period ends on 31 December, but while talks are still ongoing, a trade deal has yet to be agreed between the UK and European Union and it remains unclear what rules will apply to imports and exports. A no-deal exit will, however, see tariffs added to goods.

Chief executive Lyndon Davis told the BBC: "Within Europe, people are already asking us: 'If I buy something, are those tariffs already included in your pricing?' Because we don't know what's going to happen, it's just a very difficult position."

Horny also told the BBC that ongoing port congestion was also playing a part. "You've got a pandemic, you've got Brexit, you've got a container shortage. It's chaos," he said.

"As a country, we're shuffling the deckchairs as the Titanic is sinking. People who are having these talks just don't understand how the real world operates."

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