20th Jan 2021 14:11
Hornby PLC - Margate, England-based manufacturer of model and hobby products - Says third quarter sales, including those around the Christmas and New Year period, are ahead of last year's figures. As a result, cumulative group sales for the financial year to date are ahead of last year. Believes this has been driven by a "hugely popular" product range and increased global demand as consumers spend more time indoors due to the Covid-19 pandemic.
Notes net cash at the end of December was GBP3.8 million compared to net cash GBP3.9 million at the end of September. Says January to date has been slower than normal due to tighter Covid-19 restrictions, but expects full-year sales to be 15% to 20% higher than the previous year subject to the warehouse being able to operate fully with new restrictions in place.
Current stock price: 63.20, down 4.2% on Wednesday
Year-to-date change: up 0.3%
By Zoe Wickens; zoewickens@alliancenews.com
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