11:53 h / 2021/01/21
The latest Hornby results for the Christmas period confirm that transformation plans at the company continue apace.
In a trading statement released this week, Hornby has reported that Group sales for the third quarter were up compared to the same period a year ago. The company says this was driven by a hugely popular product range and increased global demand, as consumers spend more time at home due to coronavirus restrictions and seek even more indoor activities during the winter months.
However, tighter lockdown restrictions and the impact of courier companies pausing collections bound for Europe due to Brexit backlogs have led to a slower start to 2021. Hornby took the decision recently to pause all overseas orders until Brexit procedures could be properly put in place. Most overseas orders have now resumed and the backlogs have been worked through. The company expects that shipping to Europe will soon re-start.
Direct sales are up 133% year on year, and net cash at the end of December 2020 was £3.8m compared to net cash £3.9m at the end of September 2020.
The company expects to finish the year with sales 15-20% ahead of the prior year.
Hornby also unveiled that a new website is set to go live in the coming weeks.