REG - Gear4music - Trading Update

Gear4music (HOLDINGS)Announcement

25/02/2021 07:01

RNS Number : 2607Q
  
Gear4music (Holdings) PLC
  
25 February 2021
  
 

25 February 2021
 
Gear4music (Holdings) plc
 
Trading Update
Gear4music (Holdings) plc ("Gear4music" or "the Group"), the largest UK based online retailer of musical instruments and music equipment, today announces the following trading update.
We are pleased to report that Group trading performance in the 2021 calendar year to date continues to be strong. Both our UK and European Operations have performed well post Brexit, helping to drive revenue growth and support margins that have exceeded our previous expectations.
The Board now expects EBITDA for the 12 months ending 31 March 2021 ("FY21") will be not less than £18.2m, up from the guidance provided on 14 January 2021 of not less than £16.5m.
The Group will provide a more detailed announcement regarding FY21 trading no later than 23 April 2021.
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Enquiries:
 



Gear4music
Andrew Wass, Chief Executive Officer
Chris Scott, Chief Financial Officer


+44 (0)20 3405 0205




 


 




 
N+1 Singer - Nominated Adviser and Broker
Peter Steel/Amanda Gray, Corporate Finance
Tom Salvesen, Corporate Broking


 
+44 (0)20 7496 3000
 




 


 




 
Alma - Financial PR
Helena Bogle
Harriet Jackson
Josh Royston
Faye Calow


 
+44 (0)20 3405 0205
gear4music@almapr.co.uk



                                                             
About Gear4music.com
Operating from a Head Office in York, and Distribution Centres and showrooms in York, Sweden and Germany, the Group sells own-brand musical instruments and music equipment alongside premium third-party brands including Fender, Yamaha and Roland, to customers ranging from beginners to musical enthusiasts and professionals, in the UK, Europe and, more recently, into the Rest of the World.
Having developed its own e-commerce platform, with multilingual, multicurrency websites delivering to over 190 countries, the Group continues to build its overseas presence.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

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