Hornby (AIM:HRN) – hits the buffers…again!
Just when investors might have thought there were better times ahead, the international hobby products group, well-known for its model train sets has issued another awful trading update. It’s a puzzle to us why this one is still struggling.
Unfortunately the radical transformation plan has had a significant impact on the trading performance of the business. While they saw a strong sales performance in the key November and December period in the UK, with like for like sales in this period up 17% overall year on year, trading since the start of the New Year appears to be awful with negative year on year revenue growth and sales for the month being substantially below…
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