Music company hitting the right notes

Online musical instruments and music equipment retailer Gear4Music has today today announced total sales figures of £31.2m for the six months to August – a 44% increase from the same period last year. The York-based company also saw customer numbers increase by 44% to 390,000 and a good start to new distribution centres in Sweden and Germany.

Gear4music’s chief executive officer, Andrew Wass, said: “Revenue growth in our core UK market continues to be strong, alongside very strong growth in our international markets, driven by our new distribution centres improving our customer proposition resulting in market share gains across Northern Europe. We remain focused on delivering long-term sustainable growth through investment in our people, products, websites and operational capabilities, and raising £4.2m growth capital in May 2017 has enabled us to start accelerating investment in these key areas. The Group continues to trade in line with our expectations and is well prepared for a busy seasonal period.”

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