Model train maker Hornby Plc (LON:HRN) says its plan to return the firm to sustainable profit and cash generation is on track.
As revealed in June, the group was to carry out a root and branch restructuring after disruption caused by a new software system sent it plunging into the red.
The Scalextric owner in July brought in £8mln at 27p through a share issue, cut back its European operation and reduced the number of product lines after losses soared to £13.5mln in 2016.
Today in a brief statement, the London listed group told investors "The board can confirm that current trading has been in line with its expectations.
"Since the recent capital raising that was completed in July, the group is now implementing the new business plan to refocus the business on existing profitable and cash generative products, channels and geographies, whilst also reducing the cost base of the business to reflect projected revenue sources and a simplified overall business model."