|
Gear4music Holdings PLC shares rose on Friday as it said it would lift guidance as revenue in the first quarter increased, with traction continuing in the second quarter so far. In an update ahead of Friday’s annual general meeting, the York, England-based online retailer of musical instruments and equipment said revenue in the first quarter to the end of June was 27% ahead of the prior year. As a result, Gear4music said it has ‘sufficient confidence’ to increase its expectations for the 2026 financial year, following a previous uplift in June, though it added that the ‘critical peak trading period’ is yet to come. The firm did not provide its update guidance on Friday, but noted that a current company-compiled consensus for financial 2026 puts revenue at £155.8 million, pretax profit at £3.0 million, and earnings before interest, tax, depreciation and amortisation at £11.3 million. This compares to £146.7 million in revenue, £1.6 million in pretax profit, and Ebitda of £10.0 million in financial 2025. ‘This performance reflects the positive impact of our refreshed growth strategy, which is delivering tangible results. As previously announced, this is supported by a more favourable competitive landscape across both our UK and European markets, allowing the group to successfully capture additional market share,’ said Executive Chair Andrew Wass. Shares in Gear4music were up 11% at 293.00 pence in London on Friday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
