The model train company Hornby published a trading statement this morning covering the third quarter and that all important pre-Christmas trading period. Group sales were 7% ahead which is notable given the reported broader decline in non-food retail sales in the UK over the same period. The company is also working to reduce inventory, whilst margins are also ticking higher. Just before 9am and the Hornby share price was up 9%.
The drug development company ValiRx saw its shares find a modicum of support this morning in a broadly becalmed market. That coincided with a notification of stake building, as the company’s stock languishes at all time lows. The ValiRx share price was however up around 7% in early trade on Wednesday.
Another seasonal trading update was published today, this time from Topps Tiles. The company noted accelerating sales through the last quarter of 2024, weighted specifically over the last five weeks. Whether this can be taken as a signal of consumer demand warming up remains to be seen but in another helpful sign, the company’s digital sales also continue to accelerate, which ought to be a useful way of mitigating rising labour costs (although this obviously presents a wider societal issue in terms of rising unemployment). The Topps Tiles share price was up as much a 7.5% after the bell but has since given back around half of those gains.
Most read news on Investegate this morning
Termination-Ian Rosenblatt’s Consultancy Agreement - - RBG Holdings (RBGP)
Update on short-term US sports results impact - - Flutter Entertainment (CDI) (FLTR)
Q1 Trading Update and CEO Succession - - Topps Tiles (TPT)
