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11 Sep 2024 07:00
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
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