Stockport’s musicMagpie ‘very pleased’ with results since IPO
Stockport headquartered ‘re-commerce’ business musicMagpie has said it is pleased with its latest figures as it posts unaudited interim results for the six months ended 31 May 2021.
The company, which operates in the UK and US, specialises in refurbished consumer technology.
The latest results follow the brand’s addition to the AIM market of London Stock Exchange in April this year.
It reports that revenue is up is 2.3% to £72.8m, and UK revenue is up 6.6% to £58.1m. Gross profit has risen by 24.1% to £23.7m, and Adjusted Profit Before Tax has risen to £4m.
Steve Oliver, Chief Executive Officer and Co-Founder of musicMagpie, said: "This has been a landmark period for musicMagpie, and we are very pleased with the performance of the business as it has adapted quickly to life as a public company. We are seeing strong and growing demand for our unique circular economy model, as consumers continue to realise the benefits of buying and renting refurbished consumer technology products.”