<< Back to Research archive

Published on: October 14, 2021

H1 trading in line with expectations

G4M has delivered an H1 trading update in line with internal expectations against the very strong H1 trading performance last year and is on track to meet full-year consensus market expectations. UK sales performance was the stand-out feature, coming in flat on last year. Europe’s performance was hindered by post-Brexit challenges, down 16% on last year, though up 14% on a two-year view. Group sales are down 8% in aggregate, but up 31% on a two-year view. Gross margin has held up well, being down 60bps on last year, but strongly ahead of two years ago (+280bps) and historical levels. G4M is well positioned from a supply chain perspective, with good levels of on hand stock going into its peak trading period.

Related Content