AGM Trading Statement

RNS Number : 3685J

Hornby PLC

09 September 2016

 

Hornby PLC

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.

The Board can confirm that current trading has been in line with its expectations.  Since the recent capital raising that was completed in July, the Group is now implementing the new business plan to refocus the business on existing profitable and cash generative products, channels and geographies, whilst also reducing the cost base of the business to reflect projected revenue sources and a simplified overall business model. 

The planned business restructuring is on track and the Board remains focused on returning the Group back to a position of sustainable profit and cash generation.  More detail will be disclosed on the progress being made when the Group announces its interim results for the half year to 30 September in mid-November.

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Date: 9 September 2016

For further information contact:

Hornby Plc                                                           

Roger Canham, Chairman          

Steve Cooke, Chief Executive

David Mulligan, Interim Finance Director                                                 

01843 233500                                                         

Web: www.hornby.com

Numis Securities

Oliver Cardigan (Nomad)

Tom Ballard

020 7260 1000

Capital Access Group 

Simon Courtenay

020 3763 3400

 

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