musicMagpie plc announced that in the Group's Interim Results announced on 27 July 2022 it noted that, despite the current challenging macroeconomic environment, it expected an improved trading performance in the second half of the financial year. Whilst it still expects that second half profitability will be a substantial improvement on the first half, the performance of Consumer Technology (which represents around two thirds of Group revenue) has been weaker than anticipated and margin pressures have persisted. The Group now expects that revenue generated in the second half will show lower growth over the first half than previously expected and that profitability for the year to 30 November 2022 will be below its previous expectations and those of the market.