musicMagpie has reported revenues of £153.3 million and an EBITDA of £12.2 million for the year to 30 November ’21. Its statement to the London Stock Exchange said that its financial performance was in line with its expectations.
“We are pleased to have delivered a good performance in our first year as a listed company, in line with our expectations at the time of the IPO in April. The strong progress being made by our SMARTDrop Kiosks and our corporate recycling programme is enabling our strategic priority to ‘buy more, sell more, rent more’, and we are also especially pleased by the consumer reaction to our phone rental subscription offer which is gaining good momentum,” said Steve Oliver chief executive and co-founder of musicMagpie.
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