Published on: September 9, 2022
Lack of visibility on consumer sentiment upturn prompts more prudent guidance
Gear4music’s AGM trading update has reported sales growth in Q1 against tough comparatives. Trading over July and August was, however, impacted by the combination of extremely hot weather and the cost of living crisis, which has dampened discretionary consumer spending. While sales growth has picked up in September, the company believes it prudent to rein back full-year expectations given the prevailing market conditions. G4M is pointing to FY23E revenue of c.£155m with EBITDA of £9m.