Airfix and Scalextric owner Hornby today revealed a 17% jump in profits and said it was well advanced with its next project to revive car firm Corgi.

Continued demand from UK-based model railway and Scalextric fans ensured hobby firm Hornby reported a strong finish to 2007 trading today.

Model train maker Hornby said today it was on the right track after sales continued their recovery over Christmas and Airfix joined the business.

Iconic UK plastic plane firm Airfix was rescued today after Hornby struck a deal with administrators.

Hobby firm Revell today said it was keen to make a move for model-maker Airfix whose parent company went into administration last month.

TRAIN set giant Hornby offset the woes of its Airfix counterpart yesterday by stepping up its march into European markets.