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Gear4music hails ongoing momentum in November after swinging to H1 profit
StockMarketWire.com
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Music equipment retailer Gear4music said performance continued to be 'very strong' into November after swinging to a profit in the first half of the year.
For the six months ended 30 September 2020, the company reported a pre-tax profit of £5.8 million, compared with a loss of £279,000 year-on-year as revenue rose 42% to £$70.2 million.
The company said 3,000 new customers purchased during the period, up 52% on H1 FY20.
'(T)rading into November continues to be very strong, and we are well positioned for what we expect to be a busy peak trading period ahead of us,' the company said. 'We therefore expect that results for the financial year will now be ahead of the recently upgraded consensus market expectations.'
At 8:40am: (LON:G4M) Gear4music Holdings Plc share price was 0p at 690p
Story provided by StockMarketWire.com
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