Revenue and profit are on the rise at Gear4music, the York-based online retailer of musical instruments and music equipment.
It follows the recent failure of two UK competitors, from which the business acquired selected assets from their administrators.
According to financial results for the year ended 31 March 2025, revenue increased to £146.7m from £144.4m in the year prior. Pre-tax profits, meanwhile, grew to £1.6m from £600,000.
Andrew Wass, executive chair, said: “We are pleased to confirm that our FY25 financial results are in line with the Year-End trading update published on 2 April 2025, with growth in revenue, EBITDA and Profit Before Tax, alongside a further reduction in Net Debt.
“Following the implementation of a wide range of cost reduction measures during FY24, and the relaunch of our Growth Strategy in June 2024, our primary focus during FY25 has been to begin the successful execution of this revised strategy.
“On 16 April 2025, we reported a return to double-digit sales growth from mid-March onwards, and we are pleased to confirm that since then, both sales momentum and gross margins have continued to increase.
“This encouraging performance reflects the early positive impact of our revised strategy, alongside a more favourable competitive landscape following the recent failure of two UK competitors. As previously reported the Group subsequently acquired selected assets from their Administrators, further strengthening our market position.
“Although it remains early in the new financial year, the Group has benefited from these developments and the Board is uplifting its expectations for the Group’s financial performance for the year ending 31 March 2026.”
