30th Aug 2019 10:22
(Alliance News) - Gear4music Holdings PLC said Friday it remains confident it is well positioned to grow revenue and improve profitability.
Speaking at the musical instrument and equipment online retailer's annual general meeting, Chief Executive Andrew Wass said: "The specific actions that we have undertaken to improve gross margins and ensure that the group is operationally robust ahead of our peak trading period continue to yield positive results."
As a result, Wass said, the company continues to trade in line with its own expectations.
Gear4music reported revenue of GBP118.2 million for the 13 months ended March with a pretax loss of GBP163,000.
Shares in Gear4music were 6.1% higher in London on Friday at 199.00 pence each.
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