Source - SMW
International models and collectibles group Hornby's current trading has been in line with expectations, shareholders at the annual general meeting today will be told.

A statement issued ahead of the meeting says: "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."