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:
Roger Canham, Chairman
Steve Cooke, Chief Executive
David Mulligan, Interim Finance Director
Oliver Cardigan (Nomad)
020 7260 1000
Capital Access Group
020 3763 3400
This information is provided by RNS