Trading remains strong at Yorkshire-based Gear4Music

Gear4music, the largest UK based online retailer of musical instruments and music equipment, today revealed that it had enjoyed strong trading during the lockdown.
Gear4Music has delivered a trading update to the stock exchangeGear4Music has delivered a trading update to the stock exchange
Gear4Music has delivered a trading update to the stock exchange

In a statement released ahead of the company's annual general meeting, the company's chief executive Andrew Wass, said: "Following the exceptional period of revenue growth during Q1 FY21, I am pleased to report that trading has remained strong throughout July and August, with the group continuing to generate improved margins alongside proportionally lower marketing costs compared to the same period in the prior year.

"Whilst still relatively early in the current financial year, the board remains confident that results for the full year will be at least in line with our recently upgraded expectations."

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The group intends to announce a more detailed trading update in relation to the six-month period ending 30 September 2020 on 22 October 2020, followed by half year results for this period on 17 November 2020.

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James Mitchinson