Shares of York-based online musical equipment retailer Gear4music plc rose about 15% on Friday as it published an AGM statement and trading update with details of “strong sales momentum.”

Gear4music’ executive chair Andrew Wass told the AGM: “We are pleased to report that the strong sales momentum highlighted in our previous update has continued.

“Group revenues for Q1 FY26, covering the three months to 30 June 2025, were 27% ahead of Q1 FY25, with traction continuing in Q2 FY26 to date.

“This performance reflects the positive impact of our refreshed Growth Strategy, which is delivering tangible results.

“As previously announced, this is supported by a more favourable competitive landscape across both our UK and European markets, allowing the group to successfully capture additional market share.

“While it remains early in the financial year and the critical peak trading period is yet to come, strong trading in the year to date provides the board with sufficient confidence to once again increase its expectations for the group’s financial performance for the year ending 31 March 2026, following the uplift to expectations announced in June 2025.

“The group will issue a trading update for the six months to 30 September 2025 on 21 October 2025, followed by publication of half-year results on 18 November 2025.”

Gear4music believes that consensus market expectations for the year ending March 31, 2026, prior to release of its AGM announcement were revenues of £155.8 million, EBITDA of £11.3 million and profit before tax of £3 million.