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Friday 30 August, 2019

Gear4music

AGM Statement and Trading Update

RNS Number : 6099K
Gear4music (Holdings) PLC
30 August 2019
 

30 August 2019

Gear4music (Holdings) plc

AGM Statement and Trading Update

 

Gear4music (Holdings) plc, ("Gear4music" or "the Group") (LSE: G4M), the largest UK based online retailer of musical instruments and music equipment, will hold its Annual General Meeting at 3.00pm today.

At the meeting Gear4music's Chief Executive Officer, Andrew Wass, will make the following statement:

"The specific actions that we have undertaken to improve gross margins and ensure that the Group is operationally robust ahead of our peak trading period continue to yield positive results.  As such, we remain confident that the Group is well-positioned to grow revenue and improve profitability.

"Consequently, I am pleased to report that the Group has continued to trade in line with the Board's expectations for the full year."

The Group will announce a trading update in relation to the six month period ending 30 September 2019 on 22 October 2019, followed by the half year results for this period on 12 November 2019.

 

For further information contact:

Gear4music

Andrew Wass, Chief Executive Officer

Chris Scott, Chief Financial Officer

+44 (0)20 3865 9668

 

 

 

N+1 Singer - Nominated Adviser and Broker

Peter Steel/Justin McKeegan, Corporate Finance

Tom Salvesen, Corporate Broking

 

+44 (0)20 7496 3000

 

 

 

 

Alma - Financial PR

Rebecca Sanders-Hewett

Helena Bogle

 

+44 (0)20 3405 0205

[email protected]

 

About Gear4music.com

Operating from a Head Office in York, and Distribution Centres and showrooms in York, Sweden and 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, more recently, into the Rest of the World.

Having developed its own e-commerce platform, with multilingual, multicurrency websites delivering to over 190 countries, the Group has rapidly expanded its database and continues to build its overseas presence.

 

 


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