April 7 (Reuters) - Hornby Plc:
* Solid progress on turnaround plan
* Revenue performance for full year was slightly ahead of our plan, with Q4 showing an improving trend.
* First stage of hornby’s turnaround is now completed and has progressed in-line with board’s plan
* Group has restructured its uk and european operations
* Product range has been rationalised and re-focused which has allowed hornby to reduce capital expenditure and improve working capital.
* Business is focused strongly on improving cash flow and at 31 march 2017 net cash on balance sheet was £1.1m (31 March 2016 net debt £7.2m) which was ahead of management’s expectations Source text for Eikon: Further company coverage: (Bangalore.email@example.com)