StockMarketWire.com - International models and collectibles group Hornby reported Tuesday wider losses in the year through March as revenue growth undershot expectations amid a lack of investment in tooling.

For the year ended 31 March 2018, the reported loss before tax widened to £10.1m from £9.5m the previous year, while revenue fell to £35.7m from £47.4m.

The company blamed the slump in revenue on the ongoing impact of insufficient investment in tooling in prior years, the late placing of purchase orders with supplies and a backlog of stock at its retail outlets.

The underlying pre-tax loss widened to £7.6m, from £6.3m.


At 8:58am: [LON:HRN] Hornby PLC share price was -3p at 22.4p



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