musicMagpie delivers earnings growth in first results since listing
The electronics recycling and reselling firm reported that profits in the first six months of 2021 had risen 22.8% to £4mln
Company
musicMagpie PLC
LON:MMAG
Established in 2007, musicMagpie.co.uk provides consumers with cash for their unwanted CDs, DVDs, games and electronics. The company's brands also include Decluttr in the US, which it operates out of a site in Atlanta.
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MusicMagpie flying high on first day of dealings
The shares were floated at 193p; in early deals, market makers were pricing them at 202-204p (bid-offer).
MusicMagpie prices initial public offering at 193p
The group's revenue is increasingly derived from consumer technology (roughly 54% of revenue). Disc media represented about 38% of revenue last year and books 7%.