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Hornby PLC - Margate, England-based model train maker - Tells annual general meeting on Wednesday that sales and margins are ahead of a year before in the first five months of the financial year that began on April 1. Trading is in line with the company’s forecast back in June of low double-digit revenue growth in financial 2024, and these expectations are unchanged. All will depend on the key Christmas trading period, but Hornby says it order book is strong with new products still set to be released. Internet invoiced sales are up 34% on last year and 81% on 2021. Hornby said its inventory remains high at the end of August, but this is expected to unwind over Christmas, and progress has been made on clearing aged stock. Current stock price: 16.98 pence, up 2.9% in London on Wednesday 12-month change: down 39% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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