Hornby rises as first-half loss narrows

AIM-listed model railway manufacturer Hornby (LON:HRN) has seen its share price rise by 3.72% to 33.71p (as of 15:05 GMT) after sales climbed by 15% for the six months ended 30th September. The group continued to post a pre-tax loss, but it narrowed by 21% and gross margins improved by 200 basis points.

CEO Lyndon Davies commented: “Revenue is growing, losses are narrowing and we are shifting gears in our journey back to profitability and beyond“.