HRN.L

Hornby Plc
Hornby PLC - AGM Statement
11th September 2024, 06:00
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 6178D
Hornby PLC
11 September 2024
 

HORNBY PLC Logo

 

 

 

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 or visit 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.
 
END
 
 
AGMSFMFESELSESU]]>
TwitterFacebookLinkedIn