Gear4music (Holdings) (G4M)

Sector:

Leisure Products

Index:

FTSE AIM All-Share

 176.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 185.00
  • 52 Week Low: 87.50
  • Currency: UK Pounds
  • Shares Issued: 20.98m
  • Volume: 5,000
  • Market Cap: £36.92m

Gear4Music sales boom in pre-Christmas lockdowns

By Sean Farrell

Date: Thursday 14 Jan 2021

LONDON (ShareCast) - (Sharecast News) - Gear4Music said annual profit would beat expectations after music enthusiasts bought instruments and recording equipment during Covid-19 restrictions in the runup to Christmas.
The online music store's sales rose 30% to £52.2m in the three months to the end of December from a year earlier. UK sales rose 10% to £23m and sales to Europe and other markets jumped 51% to £29.2m. Gross profit rose 47% to £15.6m.

Annual earnings will more than double to at least £16.5m from £7.8m, the company said. Music fans have spent money on records and instruments during coronavirus lockdowns instead of going to gigs, prompting a boom in sales of products such as vinyl LPs and vintage guitars.

"Strong growth during the period has been driven by products that can be used and played at home, including guitars, keyboards and home recording equipment," Chief Executive Andrew Wass said. "We know many of our customers are looking forward to rehearsing and performing together again, and as social distancing restrictions are eased, we expect our live sound, drums and orchestral categories to return to stronger growth."

Wass said trading so far in 2021 was better than expected after Gear4Music's preparations for Brexit paid off. Costs have risen and importing goods has become more complex, he said.

"As a result of the very successful Christmas trading period, and early indications of positive trading post-Brexit, we expect to report results for the full financial year ahead of recently upgraded consensus market expectations," Wass said. "Notwithstanding what has been an exceptional period of trading since lockdowns began in March 2020, the board remains confident that the group is well resourced and positioned to deliver further growth."

Gear4Music shares rose 2.4% to 860p at 14:00 GMT. The shares have more than tripled from 237p in the past year.





Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

G4M Market Data

Currency UK Pounds
Share Price 176.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 185.00
52 Week Low 87.50
Volume 5,000
Shares Issued 20.98m
Market Cap £36.92m

G4M Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
16.11% below the market average16.11% below the market average16.11% below the market average16.11% below the market average16.11% below the market average
75% below the sector average75% below the sector average75% below the sector average75% below the sector average75% below the sector average
Price Trend
63.50% above the market average63.50% above the market average63.50% above the market average63.50% above the market average63.50% above the market average
45.45% above the sector average45.45% above the sector average45.45% above the sector average45.45% above the sector average45.45% above the sector average
Income Not Available
Growth
79.6% below the market average79.6% below the market average79.6% below the market average79.6% below the market average79.6% below the market average
77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

G4M Dividends

No dividends found

Trades for 18-Jul-2024

Time Volume / Share Price
13:19 5,000 @ 178.00p

G4M Key Personnel

CFO Christopher (Chris) David Scott
CEO Gareth John Bevan

Top of Page