StockMarketWire.com - Gear4music reported a rise in profit over the key Christmas trading period as efforts to boost margins underpinned performance.

For the two months to 31 December 2019, gross profit increased 18% to £8m and sales rose 7% to £30.4m.

Gross margin improved by 260 basis points to 26.5% on-year.

'As previously communicated, our primary 2020 objective has been to improve our operational strength and efficiency, gross margins and profitability relative to quickly growing market share during 2019,' Gear4music said.

The company said it expected 2020 profits to be 'at least' in line with its expectations.


At 8:27am: (LON:G4M) Gear4music Holdings Plc share price was +30p at 272.5p



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