Gear4music saw its annual gross profit almost double to £46.4m as Brits turned to musical instruments during lockdowns.
The online musical instrument retailer’s revenue also shot up by 31 per cent to £157.5m in the year ended March 2021.
Gear4music pushed its active customers up by 32 per cent during the period to 1.06m, as people sought activities to keep them occupied at home.
Following the full year update, shares in Gear4music rose by 1.3 per cent as markets opened.
During the year, the group secured two acquisitions including drums and percussion brand Premier and bass guitar amplification brand Eden.
The board said that it did not expect to meet the same level of “exceptional” profitability throughout the next year, but that trading had been stronger than expected in 2021.
“The outlook and general demand for musical instruments and equipment remains positive, and with the strategies and actions we are taking, we remain confident of delivering sustainable and profitable growth in the long-term,” said Andrew Wass, CEO of Gear4music.