StockMarketWire.com - Musical equipment retailer Gear4music said sales rose 16% in the first half of the year amid 'strong' international sales and a focus on higher-margin products.

For the six months to 30 September 2019, sales grew 16% to £49.4m and gross margin improved by 250 basis points to 25.2% from a year earlier.

The company said it had achieved its primary half-yearly goal of improving gross margins by cutting out less profitable sales and focusing on higher margin products.

'We continue to trade in line with our full-year EBITDA (earnings) expectations as we head towards our seasonal peak,' the company said.

The group was expected to report interim results for the six months ending 30 September 2019 on 12 November 2019.




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