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Birmingham Post
Birmingham Post
Business
Jon Robinson

DARK SECRETS: Musicmagpie shrugs off postal strikes and low consumer confidence as trading rebounds - The Real Truth

musicMagpie

musicMagpie has shrugged off a 'challenging' start to the year after being knocked by postal strikes and poor consumer confidence as it revealed a recovery in trading.

The Stockport-headquartered refurbished electronics retailer said underlying earnings raced 42% higher year-on-year to £2m in its second quarter to May 31 thanks to stronger trading from February.

A "challenging" start to the financial year, weighed on by Royal Mail industrial action and shopper cut backs in December and January, left overall first half growth in underlying earnings up by a more muted 7.7% at £2.8m.

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