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Hobby products group Hornby has narrowed its losses in the six months ended 30 September 2019, while group revenue increased.
The operating loss before exceptional costs for the six months to September 2019 was £2.5m, compared to a loss of £3m for the same period last year.
Hornby said the improvement was largely due to the year-on-year increase in sales and gross margin, offset by the impact of slightly higher overheads.
Group loss before tax was £2.8m, down from a £3.2m loss in 2018.
Group revenue increased 15% to £15.9m, up from £13.8m in 2018.
Chief executive Lyndon Davies said: 'Revenue is growing, losses are narrowing and we are shifting gears in our journey back to profitability and beyond.'
At 9:21am: (LON:HRN) Hornby PLC share price was +1.5p at 34p