REG - Hornby PLC - AGM Statement

HornbyAnnouncement

11/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240911:nRSK6178Da&default-theme=true

RNS Number : 6178D  Hornby PLC  11 September 2024

 

 

 

11 September 2024

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 2024, sales and gross profits
have been 10% higher than the previous year, although slightly behind internal
forecasts due to timing issues driven by shipping delays.

 

As is usually the case in our industry; the outcome for the full year is
subject to the sales rate in the run up to the key Christmas trading period.
Our outstanding order book is strong with new products still to be released.
In addition, D2C invoiced sales are up 11% on prior year and 56% up on the
same period in 2022.

 

Solid progress has been made on many of the strategic initiatives set out in
our most recent Annual Report and whilst inventory levels remain high on
account of planned stock build ahead of peak, total stock holding is 7% lower
than the same time last year. Inventory is expected to unwind further over the
key Christmas trading period and our expectations for the full year are
unchanged.

 

On 9 August 2024 we welcomed Neil Sachdev as our new Non-Executive Chairman.

 

Further detail will be disclosed in the interim results which are due to be
released in November 2024.

 

 

 

Enquiries:

Hornby plc

Olly Raeburn, CEO

Kirstie Gould, CFO

Holly Barnett, Public
Relations                          01843 233 500

 

Panmure Liberum
Limited

Andrew Godber
                 020 3100 2222

Edward Thomas

Anake Singh

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGMSFMFESELSESU