Hornby still on track

The latest figures from model maker Hornby (HRN) show that efforts to turn the business around are paying off. Group sales for the third quarter grew 5 per cent, while UK sales managed a 7 per cent improvement. Sales for the year to date are 6 per cent ahead of last year, although on a constant currency basis the sales growth was roughly 8 per cent. The group put the progress down to "consistent improvements" in the performance of its supply chain. Net debt also dropped by £3m to £7.9m, compared with £11m at the end of September 2014.