Gear4music (Holdings) PLC Trading Update (0292B)
January 05 2018 - 2:00AM
UK Regulatory
TIDMG4M
RNS Number : 0292B
Gear4music (Holdings) PLC
05 January 2018
5 January 2018
Gear4music (Holdings) plc
Trading Update
Gear4music (Holdings) plc ("Gear4music" or "the Group"), the
largest UK based online retailer of musical instruments and music
equipment, today announces a trading update for the four months
from 1 September 2017 to 31 December 2017.
GBP'000 4 months to 4 months to % change
31 December 31 December
2017 2016
-------------- ------------- ------------- ---------
UK sales 18,763 15,019 +25%
-------------- ------------- ------------- ---------
Europe and
Rest of the
World sales 15,801 9,365 +69%
-------------- ------------- ------------- ---------
Total sales 34,564 24,384 +42%
-------------- ------------- ------------- ---------
Highlights
-- 42% increase in total sales with continuing strong growth
into the UK and Europe during an important trading period
-- On a two-year basis, sales growth was 120%, ahead of the 114% for the same period last year
-- Both Own-brand and Other-brand revenues grew by 42% during the period
-- Active Customer numbers up by 38% to 450,000 at 31 December
2017, compared with 31 December 2016
-- Website conversion improved to 3.3% in the period, up from 3.0% last year
Gear4music's Chief Executive Officer, Andrew Wass, said:
"We are very pleased with our trading performance over the last
four months, with sales growth of 42% building on the 44% achieved
in the first half, and trading for the year to date is in line with
the board's expectations. This has been achieved as we continue to
invest in our customer proposition, marketing, people and websites,
all with a view to enhancing our long-term growth prospects.
Growth in our more established UK market has remained strong
alongside very strong growth in our international markets which are
being further driven by an improved delivery proposition as we
continue to scale up our European hubs. Our Swedish distribution
centre now fulfils over 50% of all our Scandinavian orders, and our
German Distribution centre, which became operational just 10 months
ago, dispatched over 800 orders on its busiest day in December.
We are confident that the Group will continue to grow rapidly
over the medium and longer term, as we continue our mission to
become the best musical instrument and equipment retailer in
Europe."
- Ends -
For further information, please contact
Gear4music +44 20 3128 8100
Andrew Wass, Chief Executive Officer gear4music@mhpc.com
Chris Scott, Chief Financial Officer
Panmure Gordon
+44 20 7886 2500
(Financial Adviser, Nominated Adviser and Broker)
Andrew Godber / Peter Steel - Investment Banking
Erik Anderson / Tom Salvesen - Corporate Broking
MHP Communications (Financial PR) +44 20 3128 8100
Andrew Leach
Simon Hockridge
Pete Lambie
About Gear4music.com
Operating from a Head Office in York, showrooms in York and
Sweden, and Distribution Centres in York, Sweden and Germany, 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, Europe and, more recently, into the
Rest of the World.
Having developed its own e-commerce platform, with multilingual,
multicurrency and fully responsive design websites delivering to
over 190 countries, the Group has rapidly expanded its database and
continues to build its overseas presence.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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