People turn to music to keep themselves sane amid new lockdown restrictions

The York-based firm, which is the UK’s biggest online retailer of musical instruments and music equipment, said sales rose 42 per cent to £70.2m in the six months to September 30.

The firm said strong trading momentum has continued into October ahead of Christmas.

Gear4music’s chief executive, Andrew Wass, said: “I am pleased to report that following an exceptional trading period, these strong trading patterns have continued throughout the second quarter resulting in revenue growth of 42 per cent for the first half.

"Our customers are continuing to appreciate the benefits that playing and creating music can bring during these difficult times, as well as the continued convenience of ordering our products online."

Gross margin improved by 330bps to 28.5 per cent and gross profit rose 60 per cent to £20m.

Mr Wass said: "Building on the significant progress made during 2020, our focus on gross margin improvement, proportionally lower marketing spend and tightly controlled overhead costs is delivering tangible results.

"Alongside the exceptional period of sales growth during the first quarter, the outcome will be financial results for the first half that are materially ahead of last year."

The group said strong growth in sales and gross profits has continued during October, and preparations for what it expects to be a busy peak trading period are well advanced.

Mr Wass said: "We are mindful of the uncertainties posed by Brexit and Covid-19, but are confident in the actions we are taking and the ability and commitment of our amazing staff, to ensure that the business is well positioned to overcome any potential short-term challenges.

"As such, the board is confident that results for the full financial year will be ahead of previous consensus market expectations.”