6 September
2024
Gear4music (Holdings) plc
AGM
Statement and Trading Update
Gear4music (Holdings) plc,
('Gear4music' or 'the Group') (LSE: G4M), the UK's largest retailer
of musical instruments and music equipment, will
hold its Annual General Meeting at 10.30am today.
At the meeting Gear4music's
Executive Chair, Andrew Wass, will make the following
statement:
"We are pleased to report that
trading during the financial year to date has been in line with the
Board's expectations.
Having successfully reduced our net
debt and operating costs during FY24, during the early stages of
FY25 we have focused on implementing the growth strategy outlined
in June and expect this to start delivering results in the second
half of this year.
We are well prepared operationally
for the upcoming seasonal peak trading period, and the Board
remains confident of the delivery of our medium and longer-term
profitable growth strategy.
The Group intends to release a
trading update for the six-month period ending 30 September 2024 on
22 October 2024, followed by half year results on 19 November
2024."
* Gear4music believes that consensus
market expectations for the year ending 31 March 2025 prior to
release of this announcement were revenues of £154.7 million,
EBITDA of £11.7 million and PBT of £2.8 million.
ENDS
Enquiries:
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Gear4music
Andrew
Wass, Executive Chair
Gareth
Bevan, Chief Executive Officer
Chris
Scott, Chief Financial Officer
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+44 (0)20
3405 0205
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Singer Capital Markets -
Nominated Adviser and Sole Broker
Peter
Steel/Sam Butcher, Corporate Finance
Tom
Salvesen, Corporate Broking
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+44 (0)20
7496 3000
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Alma Strategic Communications
- Financial PR
Rebecca
Sanders-Hewett
Joe
Pederzolli
David
Ison
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+44 (0)20
3405 0205
Gear4music@almastrategic.com
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About Gear4music (Holdings)
plc
Operating from a Head Office in York,
Distribution Centres in York, Bacup, Sweden, Germany, Ireland &
Spain, and showrooms in York, Bacup, Sweden & Germany, the
Group sells own-brand musical instruments and music equipment
alongside premium third-party brands including Fender, Yamaha and
Roland, to customers ranging from beginners to musical enthusiasts
and professionals, in the UK, Europe and the Rest of the
World.
Having developed its own e-commerce
platform, with multilingual, multicurrency websites delivering to
over 190 countries, the Group continues to build its overseas
presence.
