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Hornby PLC (HRN.L)

HRN.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Hornby announces progress on turnaround plan
Friday, 7 Apr 2017 02:24am EDT 

Hornby Plc : Solid progress on turnaround plan . Revenue performance for full year was slightly ahead of our plan, with Q4 showing an improving trend. . First stage of hornby's turnaround is now completed and has progressed in-line with board's plan . Group has restructured its uk and european operations . Product range has been rationalised and re-focused which has allowed hornby to reduce capital expenditure and improve working capital. .Business is focused strongly on improving cash flow and at 31 march 2017 net cash on balance sheet was £1.1m (31 March 2016 net debt £7.2m) which was ahead of management's expectations.  Full Article

Hornby reports FY pretax loss, announces turnaround plan
Wednesday, 22 Jun 2016 02:27am EDT 

Hornby Plc : Preliminary results and turnaround plan . £8 million placing to support delivery of group's strategic objectives . Renegotiation of banking facilities for three-and-a-half years . Turnaround plans involve reducing business scale and costs . Turnaround plan involves streamlining european operating model; leveraging central infrastructure . Board now intends to reduce number of individual product lines by approximately 40 per cent . In UK, group intends to exit a majority of its concession arrangements . New business plan expected to give rise to restructuring costs in current fy of about £1.7 million across UK and European operations . Fy pretax loss -13.5 million stg versus -200,000 stg loss year ago .Fy revenue fell 4 percent to 55.8 million stg.  Full Article

Hornby says appoints David Mulligan as interim finance director
Thursday, 26 May 2016 02:01am EDT 

Hornby Plc : Has appointed David Mulligan as interim finance director .David will report to Steve Cooke, who was appointed to role of chief executive in april 2016, having served previously as hornby's group finance director.  Full Article

Hornby plc confirms change of finance director
Wednesday, 1 Jul 2015 09:05am EDT 

Hornby plc:Confirms that Finance Director Nick Stone will step down from Board after the General Meeting on July 13.As previously announced Steve Cooke who joined the Group on June 10 will be appointed to the Board as Finance Director on July 13.  Full Article

Hornby PLC proposed 15 mln placing
Thursday, 18 Jun 2015 02:01am EDT 

Hornby PLC:Has secured new equity funding of 15 mln Pounds (before expenses) by way of placing of 15,789,474 new ordinary shares at price of 95 pence per new ordinary share.And that it will use part of proceeds of placing to repay part of existing bank debt.  Full Article

Hornby confirms Thomas The Tank Engine licence
Friday, 15 May 2015 02:00am EDT 

Hornby PLC:To re-launch its classic range of Thomas the Tank Engine model railway sets.Agrees a new licence with HIT to re-launch the Thomas & Friends(tm) range.Product range already available to pre-order from website.  Full Article

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BRIEF-Hornby directors says requisitioned resolutions are not in best interests

* Directors unanimously consider that requisitioned resolutions, as put forward by requisitionists, are not in best interests of Co