Hargreaves Lansdown

Gear4music raises earnings expectations amid strong trading

Thu 25 February 2021 15:30 | A A A

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(Sharecast News) - Online musical instruments and equipment retailer Gear4music updated the market on Thursday, reporting that group trading performance in the 2021 calendar year to date had continued strongly.

The AIM-traded firm said both its UK and European operations had performed well post-Brexit, helping to drive revenue growth and support margins that had exceeded its previous expectations.

Its board said it now expected EBITDA for the 12 months ending 31 March would be at least £18.2m, up from the guidance provided on 14 January of at least £16.5m.

"The group will provide a more detailed announcement regarding 2021 financial year trading no later than 23 April," the company confirmed in its statement.

At 1505 GMT, shares in Gear4music were up 11.16% at 805.9p.

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