REG - Hornby PLC - AGM Statement

HornbyAnnouncement

13/09/2023 07:00

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RNS Number : 1426M  Hornby PLC  13 September 2023

13 September 2023

Hornby Plc ("Hornby" or the "Company")

 

AGM Trading Statement

 

Hornby Plc, the international models and collectibles group, is today issuing
the following trading statement ahead of the Group's Annual General Meeting:

 

Trading and Outlook

 

For the period from the 1 April to 31 August 2023, sales and margins have
been better than the previous year and in line with Annual Report forecast of
low double digit revenue growth.

 

As is usually the case in our industry; the outcome for the full year is
subject to the sales rate over the key Christmas trading period. Our
outstanding order book is strong with new products still to be released. In
addition, our new Group Sales Director joined in August, and we expect to see
the impact of that change over the coming months. Internet invoiced sales are
up 34% on prior year and 88% up on 2021.

 

Progress has been made in reducing aged stock over the first 5 months of the
current financial year, although inventory levels remain high at the end of
August, on account of planned stock build ahead of peak Autumn sales. This is
expected to unwind over the key Christmas trading period.

 

We continue to focus on the key initiatives set out in our Annual Report and
our expectations for the full year are unchanged.

 

Further detail will be disclosed in the interim results which are due to be
released in November 2023.

 

Enquiries:

Hornby plc

Olly Raeburn, CEO

Kirstie Gould,
CFO
01843 233 500

 

Liberum

Andrew Godber
                 020 3100 2222

Edward Thomas

Miquela Bezuidenhoudt

 

 

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