Hornby (HRN)

Sector:

Leisure Products

Index:

FTSE AIM All-Share

 31.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 39.35
  • 52 Week Low: 25.58
  • Currency: UK Pounds
  • Shares Issued: 124.63m
  • Volume: 1,501
  • Market Cap: £39.26m
  • RiskGrade: 170

Hornby annual losses widen, current sales lower than expected

By Michele Maatouk

Date: Tuesday 19 Jun 2018

LONDON (ShareCast) - (Sharecast News) - Model train set maker Hornby posted a widening of its full-year losses on Tuesday as it said current sales were lower than expected.
In the year to 31 March 2018, the company made a reported pre-tax loss of £10.1m compared to a £9.5m loss the year before, as revenue fell to £35.7m from £47.4m.

Meanwhile, exceptional items were £2.3m versus £3.3m in 2017, including costs relating to the restructuring of the business and refinancing in 2017.

The Scalextric maker said group sales for the 10 weeks to 8 June are lower than it expected due to the ongoing impact of insufficient investment in tooling in the past, and the late placing of purchase orders with suppliers. In addition, it noted a backlog of stock at its retailers from previous decisions to bring sales forward by discounting, which it said will take time to work through.

On the upside, however, gross margin for the 10 weeks was 5 percentage points higher compared with the same period last year, reflecting the absence of discounting initiatives since October 2017.

Chief executive officer and interim chairman Lyndon Davies said: "In the first seven months that I have been at Hornby, we have assessed our position and confronted the reality of the situation in which we find ourselves.

"Tough decisions have now been taken and we are currently laying down the foundations for our future success. There is a new energy in the business and I am excited with our plans as we re-engage across both domestic and international markets with these well-loved brands."

At 0900 BST, the shares were down 17.3% to 21p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Hornby Market Data

Currency UK Pounds
Share Price 31.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 39.35
52 Week Low 25.58
Volume 1,501
Shares Issued 124.63m
Market Cap £39.26m
RiskGrade 170

Hornby Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
2.57% above the market average2.57% above the market average2.57% above the market average2.57% above the market average2.57% above the market average
23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average
Price Trend
55.05% above the market average55.05% above the market average55.05% above the market average55.05% above the market average55.05% above the market average
23.08% below the sector average23.08% below the sector average23.08% below the sector average23.08% below the sector average23.08% below the sector average
Income Not Available
Growth
54.6% below the market average54.6% below the market average54.6% below the market average54.6% below the market average54.6% below the market average
50% below the sector average50% below the sector average50% below the sector average50% below the sector average50% below the sector average

Hornby Dividends

No dividends found

Trades for 29-May-2020

Time Volume / Share Price
08:55 176 @ 32.85p
08:00 1,325 @ 30.30p

Hornby Key Personnel

CEO Lyndon Charles Davies

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