Hornby on track to make first pre-tax profit in three years
As a result, it now expects to achieve full year sales growth of 13% for both the group and the UK business.
In a trading statement, Hornby said: “We are pleased that this has allowed the investment in the business turnaround to continue at the same time as returning to an underlying profit in the region of £1.5 million, which is in line with market expectations. This will be the first year for three years that Hornby has delivered a pre-tax profit.”
Hornby also announced that Nick Stone will step down as group finance director later in the year.
Richard Ames, Hornby chief executive, said: “I would like to thank Nick for his contribution during this phase of the group's recovery. A search has started for his successor and Nick will be involved in the process to ensure a smooth handover. Meanwhile, the business is in good shape as we continue to make encouraging progress with our strategy to drive Hornby's recovery."
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