LONDON (Alliance News) - Musical instruments retailer Gear4Music (Holdings) PLC on Friday said its sales increased substantially in the first half of its financial year, with strong performances in both the UK and Europe.
The company, which listed on AIM in June, said its total sales for the six months to the end of August were up 43% year-on-year to GBP12.5 million, up from GBP8.8 million a year earlier. UK sales were up 38% to GBP9.6 million from GBP7.0 million, while its European sales increased 60% to GBP2.9 million from GBP1.8 million.
Gear4Music said it saw a 29% rise in website visitor numbers in the half year-on-year, and said its like-for-like sales were up by 43% in the half. The sales increased was driven by new products the group has launched, it said.
"We are very pleased with the continuing strong performance of Gear4music, which has traded comfortably in line with the board's expectations in the first half of our financial year, and we believe we are well placed as we approach our important Christmas trading period," said Chief Executive Andrew Wass.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Gear4music (G4M)