It has been reported that Gear4Music, the online musical instrument retailer’s sales rose 46% in the year to 29 February.

Figures show that revenue in the UK increased 39% to £26million and revenue in Europe grew 73% to £9.5million, whilst pre-tax profit was £0.6million in comparison to a £0.6million loss in 2015.

Chief executive, Andrew Wass, said: "In our first set of annual results as a listed company, it's very pleasing to be reporting a record year with strong growth across our core UK business and excellent progress into European markets, which has led to increased revenues and profits.

The company now do a range of own-brand products including studio microphones, stage lighting and pianos.

Mr Wass added: "With over 10 million visitors to our websites during the year, improved conversion and an increasing number of active customers, our investment strategies are delivering the growth we anticipated, and following strong sales momentum in both the UK and internationally during the first two months of the new financial year, we remain optimistic for the year ahead."