New AIM admission: musicMagpie

Mobile phone and technology recycler and reseller musicMagpie has built up a substantial UK market position in the sale of pre-used goods. This is a market estimated to be growing at 10% a year. There is still a lot more to go for in the US, which is an underdeveloped market.

Management believes it can do a lot more with the customer data musicMagpie has collected and it has launched new initiatives to enhance growth. The new smartphone rental operation could reduce short-term revenues but the recurring revenues over the term of the contract will be more profitable.

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Andrew Hore is the publisher of AIM Journal, which is an online monthly publication covering the Alternative Investment Market.