Ian Pollard – Hornby #HRN & self-inflicted wounds
Hornby plc HRN Years of mismanagement continue to take their toll at Hornby, where sadly, things seem to go from bad to worse with every year that passes. Revenue for the year to the 31st March slumped badly from £47.4 to £35.7m whilst the annul loss before tax edged slightly higher to £10.1m. Group sales […]
Ian Pollard – Hornby #HRN – plagued again by late deliveries
Hornby plc HRN claims for the umpteenth time that it is at last getting its act together over the delivery problems which have been plaguing it for years. It introduced a new strategy to increase sales which failed to do so because it involved putting an end to discounting. which, not surprisingly led directly to […]
Corporate news review Tuesday 17th October 2017
ASOS ASC says FY retail sales grew strongly at +34% on a reported basis and +27% on a constant currency basis. Customer engagement remains strong with active customers6 +24%, average basket value +2% and average order frequency +5%. CEO Nick Beighton said the new financial year “shows continuing momentum in the business” and the potential […]
Fast start to the year for Whitbread
by Ian Pollard Whitbread WTB – Management reports a good start to the year, with first quarter sales growth of 7.6%, in line with expectations. Premier Inn continued to win overall market share with strong sales growth of 9.2%, benefitting from a resilient hotel market and the contribution from the c.9,000 rooms opened over the […]
Countrywide blames Brexit for woes
COUNTRYWIDE CWD blames the EU referendum in June for a fall in what it calls transactional activity in the quarter to the end of September. Not a fall in activity you will note, not a fall in transactions but a fall in transactional activity, whatever that is supposed to mean when you translate it into […]
Hornby On Its Knees with a Begging Bowl.
Hornby HRN has been forced to go to its shareholders cap in one hand and begging bowl in the other and ask them for a measly £8,000,000 for working capital and other essential items which will, they hope, help keep it afloat. The share price has justifiably nose dived from 109p last August to yesterdays […]
Hornby Crashes – Set to Breach Banking Covenant
It has taken Hornby (HRN) a long time getting there but at long last its board and management has driven it off the rails and that is no mean achievement for a company with some of the worlds most famous brands. Is there any hope for a company specialising in toy trains, whose Chief Executive […]
TipTV Daily Market Roundup – Nick ‘Moose’ Batsford, Zak Mir and Alan Green
Nick Batsford, CEO of Tip TV, was joined by Zak Mir, technical analyst for Zak’s Traders Café, and Alan Green, CEO of Brand Communications, on the Tip TV Finance Show to discuss the Chinese import and export data, the falling commodity prices, an outlook for Centrica and Hornby and a view on global producers. Weak […]
Hornby (HNBY) transforms profits into another loss
Unbelievably in its big transformation year, Hornby has managed to turn last years small interim profit into major losses for the half year to 30th September. As group sales fell by some 5% that is perhaps not surprising. Underlying profit before tax of £0.2m has been transformed into a loss of £3.4m and the statutory loss […]
Hornby (HRN) Signals Yet Another Warning
Not only has Hornby issued yet another profits warning, it is caused by the same old reason which has plagued the company for years – supplies. They introduced a new Enterprise Resource System ( as these things are now grandly called ) in the UK in June & July and it had a significant adverse […]