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