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Gear4music expects that revenues for the year ending 31 March 2025 will be on track to hit a total of £154.7m, with EBITDA of £11.7m and profit before tax of £2.8m.
The musical instruments and music equipment retailer will be holding its Annual General Meeting today (6 September) at 10.30am.
Andrew Wass, executive chair of Gear4music, said: “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.”
He added: “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.
