News about Steve Oliver

MusicMagpie's shares increased sharply on Thursday after the company saw'record' sales during the Black Friday period. The company said full-year sales were expected to reach £136.6 million this year, down from £143.3 million last year, with consumer technology sales up 7.5 percent year on year in the second half. Gross margins increased to 27.7 percent from 26.2 percent as the company continued to concentrate on margin growth over revenue growth.

The Stockport-based business, which is known for providing secondhand electronics, said that talks were still in the early stages and that there was 'no certainty' of either party making an offer. Since going public on the London Stock Exchange two years ago, the firm's value has dropped by around 87 percent as loosening Covid-related restrictions and economic uncertainty has resulted in trade slowing down.

Despite the fact that its results increased sharply from February, the secondhand electronics reseller revealed that sales dropped to £62 million in the six months ending May from £71 million in the same period the previous year. Demand for disc media and books slowed for the long run, from £4.5 million to £20.8 million, but consumer technology sales dropped from £46 million to £41.2 million.