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Hornby makes slow start to new year, but sees sales at least 15% ahead of prior year
StockMarketWire.com
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Models and collectibles group Hornby said it had made a slower start to the year than expected, though estimated that sales would be about 15-to-20% ahead of the prior year on better-than-expected performance in third quarter.
The company blamed the slow start on tighter COVID-19 restrictions within the warehouse and the impact of courier companies pausing collections bound for Europe due to Brexit backlogs.
'We have now largely worked through these issues and will start shipping to Europe imminently,' it added.
A hugely popular product range and increased global demand boosted third quarter sales ahead of last year's, as 'consumers spend more time indoors focusing on their hobbies and taking comfort from our brands,' the company said.
'Our new website is expected to go live in the coming weeks and we anticipate a much improved interaction with our much loved customers as the platform allows us to continually develop the communities we serve,' the company said.
At 9:29am: (LON:HRN) Hornby PLC share price was 0p at 65p
Story provided by StockMarketWire.com
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