Gear4music (Holdings) (G4M)

Sector:

Leisure Products

Index:

FTSE AIM All-Share

127.14p
   
  • Change Today:
    -0.36p
  • 52 Week High: 166.00p
  • 52 Week Low: 87.50p
  • Currency: UK Pounds
  • Shares Issued: 20.98m
  • Volume: 114
  • Market Cap: £26.67m

Gear4music H1 revenues down despite UK growth

By Iain Gilbert

Date: Thursday 19 Oct 2023

LONDON (ShareCast) - (Sharecast News) - Musical instruments retailer Gear4music reported a drop in interim revenues on Thursday despite seeing modest growth in the UK.
Gear4music said overall revenues were down 6% at £62.6m, with UK revenues up 3% at £36.5m, while Europe and rest of world revenues were off 15% at £26.1m.

The AIM-listed group said its revenue performance principally reflected its focus on prioritising gross margins ahead of sales growth, in what it said continues to be "a challenging market".

Gear4music added that first-half gross margins were expected to be 27.1%, 80 basis points higher than last year, and gross profits were forecast to be £400,000 lower year-on-year at £17.0m.

Looking forward, UK revenues were guided to continue to be stronger than European revenues and the firm also expects to see a "normal" second-half weighting to trading.

Chief executive Andrew Wass said: "We have continued to make good progress with our strategic objectives in what we anticipated would be challenging market conditions. We are pleased to have achieved growth in the UK, whilst our European markets have been impacted by lower consumer demand.

"Mindful of the current trading environment, we have retained our pricing discipline and focused on improving gross margins. In addition, we have taken decisive action to drive further efficiencies and ensure our cost base is appropriately configured to deliver our profitable growth strategy."

As of 1200 BST, Gear4music shares were down 3.67% at 130.05p.







Reporting by Iain Gilbert at Sharecast.com

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G4M Market Data

Currency UK Pounds
Share Price 127.14p
Change Today -0.36p
% Change -0.28 %
52 Week High 166.00p
52 Week Low 87.50p
Volume 114
Shares Issued 20.98m
Market Cap £26.67m

G4M Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
50.33% above the market average50.33% above the market average50.33% above the market average50.33% above the market average50.33% above the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average
Price Trend
15.91% below the market average15.91% below the market average15.91% below the market average15.91% below the market average15.91% below the market average
9.09% below the sector average9.09% below the sector average9.09% below the sector average9.09% below the sector average9.09% below the sector average
Income Not Available
Growth
41.39% below the market average41.39% below the market average41.39% below the market average41.39% below the market average41.39% below the market average
63.64% below the sector average63.64% below the sector average63.64% below the sector average63.64% below the sector average63.64% 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

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Trades for 13-Jun-2024

Time Volume / Share Price
10:09 50 @ 126.90p
08:30 64 @ 126.90p

G4M Key Personnel

CFO Christopher (Chris) David Scott

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