Gear4music (AIM:G4M) delivered a strong full-year performance for the 12 months to 31 March, reporting EBITDA of not less than £18.1m (FY25: £10m) and profit before tax of not less than £9.7m (FY25: £1.6m), which it says is ahead of recently upgraded market consensus.
The group expects gross margin of 28.4% (FY25: 27.0%) and says revenues reflect sustained growth and market share gains in the UK and across Europe; prior consensus for FY26 was revenues of £186.4m, EBITDA £17.7m and PBT £9.3m.
Net bank debt reduced to £5m at 31 March after the group prepaid £3.6m in relation to its new UK warehouse. The lease for the warehouse completed on 1 April; fit-out is progressing on schedule and within budget, with total fit-out costs for FY27 expected to be £10.2m.
The group also rolled out several technical projects — an AI-based inventory forecasting and purchasing platform, a digital promotions centre and a website AI chatbot — which it says are already supporting growth.
"We are pleased to report that strong revenue growth continued during Q4 FY26, contributing to an excellent full-year financial performance, driven by the execution of our revised growth strategy announced in June 2024," Gear4music (AIM:G4M)'s Executive Chair, Andrew Wass, said.
The board added that strong revenue growth continued into April 2026 and that trading for FY27 to date is in line with market expectations. The group will report preliminary results for the year ended 31 March on 23 June.
