Hornby Rail 2015 full year results

DividendMax Ltd.

Hornby Rail 2015 full year results


Revenue of £58.1 million up 13% (2014: £51.6 million)

Underlying profit before tax £1.6 million (2014: £1.1 million loss)

Reported loss after tax £0.1 million (2014: £4.4 million loss)

New Head Office in Discovery Park, Sandwich, and new E-Commerce Team in Shoreditch, London

New Enterprise Resource Planning ("ERP") system to improve sales, logistics, and data capabilities

Supply Chain

Supply chain delivery of 93% (2014: 59%), model rail of 85%

Significant improvements in volume and quality of products from Far East vendor partners

New warehouse and distribution facility in Hersden, Kent, run by DS Logistics

Post Year-End Events

Announced today:

o £15 million placing to support the delivery of the Group's strategic objectives

o Renegotiation of banking facilities for four years

o Move from Main Market of the London Stock Exchange to AIM

Steve Cooke has joined the Group and will succeed Nick Stone as Finance Director later in the year

Richard Ames, Hornby Chief Executive Officer, said:

"I am pleased to announce that, after a year of hard work and numerous challenges, Hornby has returned to an underlying profit. We are improving product deliveries and quality from our supply chain, and I remain confident that the turnaround plan will continue to deliver further improvements.

"I am proud of what we have achieved during this phase of Hornby's recovery. Next year will be another one of change for the Group as we push for further growth. We are now heading in the right direction and the outlook has been greatly improved by the new equity and debt proposals announced today."

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