Gear4music trading in line with expectations as it implements growth strategy
Gear4music has said it is on track to deliver revenues of over £150 million in the year to 31 March 2025 as it looks ahead to future growth.
The online musical instrument and equipment retailer said it will be announcing at its AGM today that trading in the financial year to date has been in line with expectations.
The company is projecting full year revenues of £154.7 million with EBITDA of £11.7 million and pre-tax profit of £2.8 million.
At the meeting, Gear4music’s executive chair Andrew Wass (pictured) will say: “Having successfully reduced our net debt and operating costs during FY24, during the early stages of FY25 we have focused on implementing the growth strategy outlined in June and expect this to start delivering results in the second half of this year.
“We are well prepared operationally for the upcoming seasonal peak trading period, and the board remains confident of the delivery of our medium and longer-term profitable growth strategy.”
Gear4music is intending to release a trading update for the six-months to 30 September on 22 October 2024.
