29th Oct 2020 12:05
Hornby PLC - Margate-based manufacturer of model and hobby products - swings to a pretax profit in the first half ended September 30 of GBP17,000 from a loss of GBP2.7 million a year prior. Revenue was up 33% to GBP21.1 million from GBP15.9 million a year before. Says this reflects an increase in direct sales, cessation of discounting stock and improved production processes. Does not declare in interim dividend, equal to the year prior. Says it is hard to tell what the outcome will be for the full year results. Says sales continue to be higher than where they were a year prior.
Current stock price: 43.20 pence
Year-to-date change: up 16%
By Greg Roxburgh; [email protected]
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