23rd Jun 2026 12:03
(Alliance News) - Gear4music Holdings PLC on Tuesday said its multiple growth-focused technology and systems upgrades are performing well, as it announced a surge in annual profit.
The York, England-based online retailer of musical instruments and equipment said pretax profit multiplied to GBP10.3 million in the financial year ended March 31, from GBP1.6 million a year prior.
Earnings before interest, tax, depreciation and amortisation jumped 84% to GBP18.4 million from GBP10.0 million.
Revenue grew 30% to GBP190.7 million from GBP146.7 million. International revenue was up 36% to GBP76.6 million from GBP56.5 million, while UK revenue rose 26% to GBP114.1 million from GBP90.2 million.
The number of website users in financial 2026 rose 32% to 82.4 million from 62.2 million.
Total administrative expenses increased by 17% to GBP43.7 million from GBP37.3 million.
The company said it does not consider it appropriate to declare a dividend at this time, while highlighting that it is confident in the prospects for the business, and recognises the importance of generating and retaining cash reserves to support further growth.
Looking ahead, Gear4music said its multiple growth-focused technology and systems upgrades it launched in the fourth quarter of financial 2026 and the first quarter of financial 2027 are performing well and set to yield benefits in financial 2027.
Furthermore, its warehouse fit-out is progressing well and on schedule to be operational ahead of the financial 2027 peak.
The company said that financial 2027 trading is in line with board expectations, as it is on track to deliver financial 2027 consensus expectations, citing revenue of GBP200.2 million, Ebitda of GBP16.0 million and pretax profit of GBP6.0 million.
Executive Chair Andrew Wass said: "During Q4 FY26, we delivered several growth-focused technology initiatives, including the launch of an AI-based inventory forecasting and purchasing platform, a new customer relationship management platform and digital promotions centre, and an AI-powered website chatbot.
"To support the strong growth of high-end product sales in FY26, we also recently launched a white-glove in-house courier service, enabling us to deliver, set up and install premium products that we were previously unable to supply, further enhancing our customer proposition and overall customer experience."
Gear4music shares rose 6.6% to 274.50 pence each on Tuesday around noon in London.
By Tom Budszus, Alliance News slot editor
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