Sales up at Gear4Music Magazine

Gear4Music, the York-headquartered online instruments seller, is growing total half year sales by 44%.

For the half a year to 31 August 2017, total sales stood at 31.Two million, up from last year’s figure of 21.6 million.

The company said that growth stemmed from a 70% hike in international sales C up 7.8 million to 13.3 million.

Gear4Music recently opened new new distribution centres in Sweden and Germany and a los angeles headquarters.

Chief Executive Andrew Wass said: “Revenue boost in our core UK market has become strong, alongside strong increase our international markets, driven by our new distribution centres improving our customer proposition causing market share gains across Northern Europe.

“A time of investment into our proposition and infrastructure in H1 has grown our operational costs and restricted margins in the short term.”

He added: “Encouragingly, revenue growth during the last about six weeks supports our expectation that, as previously stated, revenue and profitability is likely to be more H2 weighted in FY18 versus FY17.

“We remain focused entirely on delivering long-term sustainable growth through purchase of our people, products, websites and operational capabilities, and raising 4.Two million growth capital in May 2017 has allowed us to begin with accelerating purchase of these key areas.

“The gang is constantly swap line with the expectations and it’s organized for just a busy seasonal period.”

The company has recently inaugurated new distribution centres inside Sweden and Germany and opened a fresh HQ in York.

Related posts

US giant acquires Moy Park poultry producer in


‘Exceptionally strong’ 12 months for Avacta Magazine


Tissuemed targets greater sales in China


Leave a Comment

Skip to toolbar