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(Sharecast News) - Musical equipment retailer Gear4music said on Friday that the "strong sales momentum" highlighted in its previous update has continued of late, with revenues up by more than a quarter in the three months ended 30 June.
Gear4music said Q1 revenues were 27% higher year-on-year, with traction said to be continuing so far in Q2, reflecting "the positive impact" of its refreshed growth strategy, which it said was delivering "tangible results".
The AIM-listed firm also stated that its Q1 performance was supported by "a more favourable competitive landscape" across both its UK and European markets, allowing it to "successfully capture additional market share".
Executive chairman Andrew Wass said: "While it remains early in the financial year and the critical peak trading period is yet to come, strong trading in the year to date provides the board with sufficient confidence to once again increase its expectations for the group's financial performance for the year ending 31 March 2026, following the uplift to expectations announced in June 2025."
As of 0855 BST, Gear4music shares had shot up 13.13% to 299.80p.
Reporting by Iain Gilbert at Sharecast.com
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