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 downgrades expectations for 2023

By Michele Maatouk

Date: Friday 09 Sep 2022

LONDON (ShareCast) - (Sharecast News) - Gear4music downgraded its full-year expectations on Friday, pointing to the cost-of-living crisis and a lack of visibility over when consumer sentiment might improve, sending shares in the musical instruments retailer tumbling.
The company now expects FY23 revenue to grow to around £155m, with earnings before interest, tax, depreciation and amortisation of £9m. This compares to consensus market expectations for revenues of £163.9m and EBITDA of £11.9m.

In an update ahead of its annual general meeting, Gear4music said: "As previously reported, we were expecting inflationary pressures to restrict operating margins during FY23, and despite the weaker consumer environment we are pleased to have achieved sales growth during Q1. Trading during July and August has, however, been further impacted by the widely reported cost of living crisis and unusually hot weather across Europe."

The company said it had expected a return to a more normalised seasonal trading pattern in FY23, with less demand in summer months than winter months, and early indications are that trading has improved in September.

"However, given the lack of visibility over the timing of any improvement in consumer sentiment and wider macroeconomic conditions as we approach H2, we believe it is now prudent to moderate our full year expectations accordingly."

At 0808 BST, the shares were down 23% at102p.

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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

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