Gear4Music has lowered its profit expectations for the full year, citing tough market conditions and aggressive competitor discounting. The York-based musical instruments and equipment retailer now expects EBITDA of £10 million for the year ending 31 March, down from the previous forecast of £11.7 million. Profit before tax is projected at £1.6 million—below the £2.8 million market estimate but a notable rise from £0.6 million last year. Revenue is set to reach £146.7 million, falling short of the expected £154.7 million.

The company’s share price dropped 3.6% to 130p in early trading, a sharp decline from 200p six months ago and significantly below its pandemic peak of 1010p.

Executive chair Andrew Wass acknowledged the challenges of weak consumer confidence and price competition, particularly in early 2025. However, he noted improved UK and European sales in late March and suggested that competitive pressures may be easing as struggling retailers exit the market.

Gear4Music continues to invest in own-brand product development, second-hand sales, marketing, and e-commerce improvements. While economic uncertainty remains, the company expects to build on recent momentum and improve financial performance in the coming year.

Funding for the development of manufacturing facilities and port infrastructure to enable swifter deployment of offshore wind around the UK is the focus of the second round of The Crown Estate’s Supply Chain Accelerator. Following the success of the initial funding round in 2024 The Crown Estate has allocated £15m for the next round of the programme which seeks to kick-start investments in  offshore wind-related port infrastructure and supply chain facilities. The Crown Estate established the £50m Supply Chain Accelerator last year to accelerate and de-risk the early-stage development of UK supply chain projects servicing the offshore wind sector. It supports existing early-stage projects to scale up into attractive capital investment opportunities, helping to drive demand for new jobs and skills. Following the passing of The Crown Estate Act 2025, this second round has been expanded to include UK ports and port-related infrastructure to support the construction, assembly, manufacturing, operations & maintenance, and wet storage of fixed and floating offshore wind, as well as supply chain opportunities that support deployment. Ports are set to play a major role in the UK’s clean energy transition as hubs for the construction, operation and maintenance of offshore wind farms. The Government has set a target of up to 50GW of offshore wind deployed by 2030 and, with 14.7GW of offshore wind currently deployed off the UK’s coasts, greater funding for port infrastructure and facilities will be vital to deliver this ambition. The Government’s target includes 5GW of floating wind, with The Crown Estate’s current Offshore Wind Leasing Round 5 expected to deliver up to 4.5GW in the Celtic Sea. The expanded scope of the Supply Chain Accelerator’s second round to include ports and port-related infrastructure as well as wet storage could support in the delivery of these targets. In the second funding round businesses can apply for up to £1.5m per eligible project, with The Crown Estate providing 50% matched funding for early-stage development expenditure together with an option to participate in the capital investment phase. The application process is now open and is due to close at the end of June. Successful projects will be chosen following an application assessment process and announced by the end of the year. The Crown Estate is being supported by professional services firm Grant Thornton. Ben Brinded, Head of Investment at The Crown Estate, said: “The ambition behind our Supply Chain Accelerator is to accelerate and derisk the offshore wind supply chain in support of the UK’s clean energy transition, boosting economic growth through new jobs and skills opportunity around the country. “Following the success of the initial funding round and the recent modernising of our investment powers through The Crown Estate Act 2025, we’ve expanded the ambition and scope for the second round of the Accelerator to include fixed and floating supply chain opportunities, together with ports and their associated facilities. “The application window is open until the end of June, and we are looking forward to hearing from applicants with UK projects we could support to get investment ready.” Gus Jaspert, Managing Director, Marine at The Crown Estate, said: “The energy transition isn’t just about clean power; it also offers huge opportunities for new jobs, skills and regeneration across the country. “With one of the world’s largest offshore wind industries and growing ambitions, we want to support the UK’s supply chains and infrastructure to be as successful as our deployed offshore wind. “Ports are vital national assets which are key to unlocking the huge potential of our exciting clean energy transition. Providing funding for port infrastructure and supply chain facilities is an obvious and important next move for our Supply Chain Accelerator. “It will help the UK’s offshore wind sector to retain its global attractiveness to developers and investors, providing confidence we can increase our rate of deployment whilst also ensuring activity offshore is creating value for onshore communities up and down the country.”

Arrow Film Converters, a flexible packaging firm based in West Yorkshire, has been sold out of administration to Coral Products Plc through its subsidiary, Film & Foil Solutions Ltd. The acquisition preserves 55 jobs and ensures continued operations at the company’s Castleford production facility.

Administrators James Clark and Howard Smith of Interpath were appointed on 1 April 2025 and have confirmed that the sale includes key assets such as flexographic printing machines and laminators. These will strengthen Film & Foil’s capabilities in specialist flexible packaging.

The agreement also provides a six-month licence for the business to operate from its BRCGS-accredited Castleford site.

Arrow Film Converters, which has been trading since 2003, reported a turnover of £17.9 million and a pre-tax profit of £231,295 for the year ending 31 July 2023. Coral Products Plc sees the acquisition as a strategic move to expand its production capacity, with a medium-term target of £50 million.