Gear4Music boosted by trading statement

AIM-listed specialist retailer Gear4Music (LON:G4M) saw its share price climb by 4.25% to 589p (as of 12:55 BST) after it provided an update on current trading. The company’s CEO Andrew Waas commented: “Following the exceptional period of revenue growth during Q1 FY21, I am pleased to report that trading has remained strong throughout July and August, with the Group continuing to generate improved margins alongside proportionally lower marketing costs compared to the same period in the prior year.

Whilst still relatively early in the current financial year, the Board remains confident that results for the full year will be at least in line with our recently upgraded expectations“.

Results for the half year ending 30th September will be published in October.