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Hornby in “strong” position during coronavirus pandemic thanks to February fundraise

Revenue and gross margin the year to March 31, 202, were said to be ahead of last year and in line with forecasts

Hornby PLC - Hornby in “strong” position during pandemic thanks to February fundraise

Hornby PLC (LON:HRN) has said it started the new financial year in a “strong” position after raising £15mln through a share placing in February.

The train model maker, however, said it could not provide guidance for the year due to uncertainty amid the coronavirus pandemic, but revenue and gross margin the year to March 31, 2020, were said to be ahead of last year and in line with forecasts.

READ: Model train maker Hornby tapping the City for £15mln

In a statement, the owner of Airfix, Meccano and Scalextric said it is complying with coronavirus safety measures and has applied to receive state support in countries where it operates.

Hornby shares rose 2% to 31p at the opening bell on Thursday.

Quick facts: Hornby PLC

Price: 36 GBX

LSE:HRN
Market: LSE
Market Cap: £60.09 m
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