Further to the upgrade delivered on the back of its impressive Q3 peak trading period, G4M has continued to perform strongly in Q4, resulting in another upgrade. Management now anticipates that EBITDA for FY21E will be not less than £18.2m, compared with our previous forecast of £16.6m. We have subsequently raised our FY21E EBITDA forecast by £1.7m (+10%) to £18.3m. G4M will make a more detailed announcement on FY21E’s trading performance no later than 23 April.