Model train maker Hornby has said that it will report its first annual profit in three years, as improvements in its supply chain saw sales growth in the January-to-March period improve "significantly”.

In a statement, the company said that sales are expected to grow 13% in the financial year to the end of March, and should report an underlying full-year profit of £1.5 million.

The move from the Group's UK old headquarters in Margate to the Discovery Park in Sandwich has now started and is expected to be complete by the end of May 2015, whilst work on the Group's reorganization is “continuing”.

In other news, group finance director Nick Stone will be leaving the company later this year. A search for a replacement has already begun.

Richard Ames, CEO, said: “I would like to thank Nick for his contribution during this phase of the group's recovery. A search has started for his successor and Nick will be involved in the process to ensure a smooth handover. Meanwhile, the business is in good shape as we continue to make encouraging progress with our strategy to drive Hornby's recovery."