Hornby, which manufactures model railways, said today that its full-year group sales suffered after results in the last quarter were pulled down by Red Sea delivery delays and by an early Easter.
Its fourth-quarter sales fell 8% year-on-year, resulting in only a 2% increase to sales for the year ended March 31, at £56.2m, the company said.
"Whilst we close the year in a loss-making position and both net debt and inventory are still too high, we have seen a marked change in trajectory since the half year and aim to continue this positive improvement throughout the current financial year," Hornby said.
