Gear4Music which specialises in the online sale of musical instruments and accessories says it has enjoyed a strong uplift to its sales during lockdown. The business shared that it had experienced only slight disruption to its fulfilment processes during lockdown, in spite of increased volumes.
For the full year to March 31st, its revenues rise by a modest 2 per cent to reach £12.3 million with gross profits up by 16 per cent to £4 million as compared with last year.
“Positive sales trends with improved margins have continued into June, and we have also incurred lower marketing costs that we would typically expect,” said Andrew Wass CEO. He added: “The improvements we have made during FY20, and the exceptionally strong trading we have experienced during the lockdown period, mean we are financially stronger and better placed than ever to make the most of future growth opportunities in our market.”
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