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 trading in line as it focuses on cost reductions

By Josh White

Date: Friday 08 Sep 2023

LONDON (ShareCast) - (Sharecast News) - Musical instrument and equipment retailer Gear4music said in an update on Friday that trading in the financial year to date had been in line with the board's expectations.
The AIM-traded firm, which was holding its annual general meeting, said that as it said in a statement on 20 June, it was prioritising increasing gross margins and cost base reduction to improve profitability, ahead of revenue growth.

Chief executive officer Andrew Wass said the company was pleased with the progress being made in those areas, which included driving significant cost efficiencies in its software development unit.

"Our recently-launched second hand system is trading well and continues to show signs of being a long-term growth driver, having successfully facilitated several thousand trade-ins since its March debut," Wass explained.

"During the last few weeks, we have also launched the system into our European markets, and we are confident it will evolve to become a meaningful component of the group's future revenue portfolio."

Gear4music said it was planning to release a trading update for the six months ending 30 September on 19 October, followed by half-year results on 14 November, at which time further details of improved gross margins and the underlying cost reductions achieved would be shared.

At 1324 BST, shares in Gear4music Holdings were up 25.71% at 110p.

Reporting by Josh White for Sharecast.com.

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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
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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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