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	[phone]
N+1 Singer - Nominated Adviser and Broker Peter Steel/Justin McKeegan, Corporate Finance Tom Salvesen, Corporate Broking	[phone]
Alma - Financial PR Rebecca Sanders-Hewett Helena Bogle	[phone] [e-mail]

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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