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Print8:12 am, April 29, 2009
Music Magpie expects to quadruple revenues
Music Magpie, the Macclesfield-based company which trades used CDs, computer games and DVDs online, today said it expected revenues to rise to £2.5m in the 12 months to the end of May.
This compares with £600,000 in its first full year of trading. The company’s workforce has increased to 60 from 25 over the last six months.
The company was founded by Steve Oliver, who was previously managing director of collapsed retailer Music Zone.
Oliver said the Music Magpie website was now trading 300,000 items every month, with an average customer spend of between £28 and £36. Average daily visitors are 4.500 and the company believes it is benefiting because the recession is tempting more people to turn unwanted items into cash.
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