Gear4music trades in line, focuses on growth strategy

6th Sep 2024 09:20

(Sharecast News) - Music instruments retailer Gear4music said on Friday that its year-to-date trading performance has been in line with internal expectations.

Gear4music noted that having successfully reduced net debt and operating costs during FY24, during the early stages of FY25 it focused on implementing its growth strategy and expects this to start delivering results in the second half of the current trading 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," said the London-listed firm.

Gear4music will release a trading update for the six-month period ending 30 September on 22 October 2024, followed by its interim results on 19 November.

As of 0920 BST, Gear4music shares had sunk 7.61% to 171.85p.

Reporting by Iain Gilbert at Sharecast.com