Music Magpie credits record Black Friday for boosting performance
Music Magpie said a record Black Friday period has helped “offset a softer H1” as it posted its pre-close trading update to November 30, 2023.
The retailer said full-year revenue is expected to reach £136.6m, down from £143.3m in 2022, which was strengthened by a stronger performance in the second half of the year.
EBITDA is expected to rise by 15.4% to £7.5m, up from £6.5m last year. Music Magpie said the expected rise was a result of the “gross margin increase and ongoing tight cost control, as well as the strong end to the year”.
Already have an account? Sign in here
