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Gear4music sees core earnings topping market expectations as sales, margins grow
StockMarketWire.com
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Online musical equipment retailer Gear4music said annual core earnings would top market expectations following a rise in sales and gross margins.
For the 12 months to 31 March 2021, earnings before interest, tax, depreciation, and amortisation, or EBITDA, was now expected to be not less than £19.0 million, up from £7.8 million last year and ahead of current market expectations.
Gross margin improved by 360bps to 29.5%, and sales were up 31% to £157.5 million.
'Whilst it is still very early in the new financial year, we are pleased with FY22 trading to date, relative to the exceptional period of trading during April FY21,' the company said.
At 9:51am: (LON:G4M) Gear4music Holdings Plc share price was 0p at 690p
Story provided by StockMarketWire.com
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