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Musical instrument seller Gear4Music says it has boosted revenues over the Christmas trading period, despite a challenging market.

The York-based retailer is undergoing turnaround efforts which it says are paying off. It reported third quarter results to the end of December showing a 13% rise in º£½ÇÊÓƵ revenues to £29.7m, and a 4% drop in European and the rest of the world to £19.3m - leading to a 6% boost to total revenue at £49m.

Bosses told the London Stock Exchange that Ebitda was performing in line with current market expectations for the year ending March 31 2025 which include revenues of £154.7m, Ebitda of £11.7m and pre-tax profit of £2.8m. The firm pointed to gross margin of 28.1% during the third quarter, compared with 28.2% in the same period last year, which it said showed pricing discipline.

Meanwhile gross profit was £13.7m, up £600,000 on Q3 last year. The latest trading update follows half year results published in November which show Gear4Music's operating losses narrowed to £500,000. Then it reported growth in its second-hand instruments platform in which it promised further investment, along with its own brand line of products.

Andrew Wass, Gear4music's executive chair, said: "We are pleased to report that financial performance during our FY25 peak seasonal trading period was in line with the board's expectations, with 6% revenue growth and an improvement in gross profit. This reflects the progress we have made as a result of our refreshed growth strategy, in what continues to be a challenging consumer environment, particularly in certain European markets.

"Christmas trading followed the pattern we had expected and planned for, with revenues in November being subdued by the late Black Friday weekend condensing peak revenues into the three weeks before Christmas. January trading to date continues to be in line with the board's expectations and we are confident that the business is well positioned for continued profitable growth during FY26."