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Gear4music issues profit warning

Ordinarily bullish musical instrument retailer Gear4Music has downgraded its full year EBITDA to a level below that achieved last year, blaming constraints at its distribution centre facility. Total sales had increased by 41 per cent to £48.7 million in the four months to 31 December.

Gear4music's chief executive Andrew Wass said: “We are already working on plans to further expand our UK distribution capacity ahead of our peak trading period next year and we are confident that this can be achieved by autumn 2019.” Sales in the UK had risen by 36 per cent in the four month period with sales in Europe and the rest of the world up by 47 per cent.

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