Gear4music (Holdings) (GB:G4M) has released an update.
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Gear4music (Holdings) PLC reports a successful financial year with revenues meeting market expectations and a notable 34% increase in adjusted EBITDA to £9.9 million. The online musical instrument retailer also achieved a significant reduction in net debt, nearly halving it to £7.3 million, and is now set to implement a refreshed growth strategy to further drive profitability in FY25. Key executive changes are announced, including CEO Andrew Wass transitioning to Executive Chair as the company looks to expand sales and enhance operational efficiency.
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