The company’s latest results show a decrease in underlying losses before tax, while revenue has fallen slightly. 

The chief executive of Hornby has said the business is “firmly focused on the future” after posting full-year results featuring narrowed losses.

In the year to 31st March 2019, Hornby made an underlying loss before tax of £4.4m, down from £7.6m in the previous year, on revenue which fell from £35.7m to £32.8m.

The company has undergone its first full year under a new management team, and has described the period as one of transition in which considerable progress had been made.

“Over the last 18 months we have created the foundations for the future across all parts of our business, we have really got to grips with the business now,” said chief executive Lyndon Davies. “We are firmly focused on the future and there is a passion reverberating around the corridors at our ancestral home in Margate, which we returned to earlier this year.”