Gear4music (LON:G4M) confirms that trading is on track for the first four months of FY18. The return to a more normal second half-weighted revenue split has already been flagged. Significant development of the offer and the platform is underway as the company focuses on the international opportunity. Given this focus, the market’s expectation of the time the company is likely to take to build European market share may be too cautious, which would imply upside for the share price.
AGM trading update: In line with expectations
Trading has been in line with management’s expectations, with strong growth continuing in the UK as well as internationally. The new European distribution centres should contribute in the second half. Development continues on the mobile platform, building the software team, expanding options for order and delivery, and international capabilities, including potential expansion beyond Europe. The product range as well as investment in these initiatives, is benefiting from the funds raised in the May placing.
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