Gear4Music which has had its ups and downs over the past few years has posted total revenues of £61.7m for the 6 months to 30 September 2024. This compares against £62.6m the previous year.
“This performance comes despite initial challenges with the roll-out of a new AI-based marketing system during H1 which temporarily increased marketing costs and impacted the sales mix between our own-brand and other brand products and our European sales.” said executive chair Andrew Wass. “These issues have now been resolved, and our marketing investments have stabilised.”
During the period the business acquired the brand, IP and other assets of Studiospares Europe Ltd for £150k to extend its ‘own brand’ range. It says that its full-year outlook (to 31 March 2025) remains in line with market expectations with revenue of £154.7m and EBITDA of £11.7m.
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