Demand from adult collectors nostalgic for a childhood playing with model trains and Scalextric racing cars helped toymaker Hornby cope with a tough Christmas for retailers, it said on Monday.

However, delays rolling out new products in mainland Europe knocked shares in the 100-year old manufacturer, which also makes Airfix plastic model kits.

"We are relieved, very puzzled and slightly surprised at the way sales continued to be strong through the Christmas period," chief executive officer Frank Martin told analysts and reporters, saying Hornby missed the worst of a retail slowdown felt by others.

"The evidence we are experiencing through this month has been very positive," he said, adding that strong sales of railways and Scalextric sets before Christmas had boosted demand for accessories in late December and January.