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Gear4music in tune for growth after record year

Gear4music in tune for growth after record year

Gear4Music has reported a record year in its first full year results since its IPO. The York-based group, which completed its IPO in June 2015 raising £10.3m, saw continued strong sales growth with UK revenue of £26m, up 39%, and a 73% rise in European revenue to £9.5m in its preliminary results for the year ended February 29.

Operating from an office, showroom and distribution centre in York, the group sells own-brand musical instruments and music equipment alongside premium third party brands including Fender, Yamaha and Gibson, to customers ranging from beginners to musical enthusiasts and professionals, in the UK and, more recently, into Europe.

Chief executive Andrew Wass said: “In our first set of annual results as a listed company, it’s very pleasing to be reporting a record year with strong growth across our core UK business and excellent progress into European markets, which has led to increased revenues and profits.”

See the article in full at TheBusinessDesk.com