22nd Oct 2024 22:14
Gear4music Holdings PLC - York, England-based instruments and music equipment retailer - Expects to report fall in revenue to GBP61.7 million in the six months to September 30 from GBP62.6 million a year prior. Further, sees gross profit lower at GBP16.5 million from GBP17.0 million. But pretax loss is expected to narrow to GBP0.7 million from GBP1.2 million. Says returned to revenue growth in the second quarter with sales up 1% after falling 4% in the first quarter. Gross margin is expected to be 26.7%, an improvement on 26.3% a year ago. Full-year outlook remains in-line with consensus market expectations, as notes stronger growth achieved during October trading to date. Feels well-positioned and prepared for the upcoming peak seasonal trading period. Gear4music puts consensus for revenue in year to March at GBP154.7 million and pretax profit of GBP2.8 million.
Current stock price: 177.00 pence, up 3.2% in London on Tuesday
12-month change: up 57%
By Jeremy Cutler, Alliance News reporter
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