York-based online musical equipment retailer Gear4music plc published a year-end trading update covering the 12 months to March 31, 2026, showing total sales up 30% to £190.7 million and a profit before tax expected to be not less than £9.7 million (FY25: £1.6m).
Gear4music executive chair Andrew Wass said: “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.
“Higher revenues and improved gross margins, combined with disciplined cost control, have driven at least an 80% increase in EBITDA in FY26 and a significant improvement in profit before tax to at least £9.7m, up from £1.6m in FY25.
“We also note that, despite £3.6m of deposits paid in Q4 FY26 in relation to the fit-out of our new UK warehouse, net bank debt has reduced for a fourth consecutive year to £5.0m.
“The lease for the new UK warehouse completed as scheduled on 1 April 2026, with fit-out works now underway and progressing on schedule and within budget. The new facility will provide the additional capacity and efficiency required to support future UK growth, and as previously reported the total fit-out costs for FY27 are expected to be £10.2m.
“During Q4 FY26, we successfully delivered several significant new technical development projects, including the launch of an AI-based inventory forecasting and purchasing platform, a digital promotions centre enabling more targeted customer incentives, and a website AI chatbot providing product information and advice.
“These developments are already supporting further growth. As previously announced, revenue growth accelerated from mid-March 2025 and notwithstanding more challenging year-on-year comparatives, strong revenue growth has continued into April 2026.
“Whilst it remains early in the financial year and the Board has not yet made any changes to FY27 forecasts, it remains confident that the business will build on the substantial financial progress achieved in FY26. Trading in FY27 to date is in line with consensus market expectations.”