UK's Gear4music rises on higher HY revenue

Gear4music (HOLDINGS)

15/11/2022 15:01

** Shares of musical instruments retailer Gear4music  G4M.L 
up as much as 6.9% at 102.7p  
    ** Co says HY revenue rises 2% to 66.3 mln pounds ($78.97
mln) vs 64.7 mln pounds a year ago  urn:newsml:reuters.com:*:nFWN32A5V0
    ** Adds increase in revenue helped by 10% increase in
European sales
    ** Says improved trading momentum during FY23 H2 continued
into November; maintained its outlook of a return to pre-covid
H2 weighted trading seasonality
    ** Co forecasts full-year profit outlook in-line with market
expectations after posting in-line EBITDA of 2.7 mln pounds for
HY ended Sept. 30, 2022
    ** Including session gains, stock down ~86% YTD
($1 = 0.8396 pounds)
 (Reporting by Hani Kollathodi in Bengaluru)
 ((Hani.Kollathodi@thomsonreuters.com;))