Hornby_Annual_Report2017.pdf

Hornby_Annual_Report2017.pdf - ANNUAL REPORT AND ACCOUNTS...

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ANNUAL REPORT AND ACCOUNTS 2017
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Hornby PLC Annual Report and Accounts 2017 Hornby PLC Overview 01 Highlights 2017 02 At a Glance 04 Product Journey 06 Strategy Strategic report 08 Chairman’s statement 10 Chief Executive’s report 14 Operating and financial review of the year 17 Our Key Performance Indicators (‘KPIs’) Governance 19 Directors and Corporate Information 20 Directors’ Report 25 Independent Auditors’ Report to the Members of Hornby PLC Financial statements 27 Group and Company Statements of Comprehensive Income 28 Group and Company Statements of Financial Position 29 Group and Company statements of Changes in Equity 30 Group and Company Cash Flow Statement 31 Notes to the Financial Statements 61 Notice of Annual General Meeting (Unaudited) 64 Shareholders’ Information Service The Group’s principal business is the development, production and supply of toy and hobby products for a global market, through a series of heritage brands. The Group distributes its products through a network of hobby specialists, multiple retailers and through its own website in the UK and overseas.
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OVERVIEW STRATEGIC REPORT GOVERNANCE FINANCIAL STATEMENTS 01 Hornby PLC Annual Report and Accounts 2017 Highlights 2017 “I am pleased with the progress we have made over the past year to deliver on the Turnaround Plan, the first stage of which has now been completed. We have delivered on the commitments we made a year ago and have made the necessary structural changes to the business. Having returned the Group to a sound financial footing, we are now in a position to focus on the next stage of the Turnaround Plan, which will see Hornby progress back to profitability and positive cash generation.” Steve Cooke, Chief Executive 1 Underlying figures are before amortisation of intangibles (brand names and customer lists) and net unrealised foreign exchange movements on intercompany loans and exceptional items. Revenue (2016: £55.8m) £47.4m Operating loss (2016: £(13.1)m loss) £(9.2)m Reported loss before taxation (2016: £(13.5)m loss) £(9.5)m Underlying 1 loss before taxation (2016: £(5.7)m loss) £(6.3)m Reported loss after taxation (2016: £(13.7)m loss) £(9.7)m Reported loss per share (2016: (27.87)p loss) (12.65)p Underlying basic loss per share (2016: (13.02)p basic earnings) (9.26)p Net cash (2016: £7.2m net debt) £1.5m
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02 Hornby PLC Annual Report and Accounts 2017 At a Glance The Group operates across five product categories in the toy and hobby market for scale models. Our products are distributed through the following channels: UK Independent specialists, UK National retailers, our European businesses in Spain, France, Germany and Italy, via export with our international distributors and through Hornby Inc. in the USA. Other channels include Hornby’s internet and retail operations. High-quality scale locomotives, coaches and wagons for the model rail enthusiast.
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  • Spring '16
  • KWAME
  • Hornby PLC

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