Focusrite PLC Trading Statement (7335F)
20 Julio 2021 - 1:00AM
UK Regulatory
TIDMTUNE
RNS Number : 7335F
Focusrite PLC
20 July 2021
Strictly embargoed until 07.00, 20 (th) July 2021
Focusrite plc
("the Company" or "the Group")
Trading Update
Focusrite plc (AIM: TUNE), the global music and audio products
company supplying hardware and software used by professional and
amateur musicians and the entertainment industry, is pleased to
give the following update on current trading.
Since the Half Year period ended 28 February 2021, the Company
has continued to trade well across all business units and demand
has remained strong when compared with the corresponding period in
FY20. As a result the Board now expects revenue for the full year
to 31 August 2021 to be ahead of market expectations . In addition,
p rofitability for the full year will be significantly ahead of
expectations as a result of strong trading together with a
substantial decrease in travel and trade shows due to the
restrictions and changes in working practices caused by COVID-19.
The Board does not expect these cost savings to be recurring.
Despite the strong demand for most of the Company's products,
the Board remains conscious of factors that are currently impacting
operations adversely, in particular the previously reported effect
of supply constraints due to the global shortage of semi-conductors
and other components as widely reported by many manufacturers of
electronics. The Group is experiencing continuing disruption to the
supply chain; and freight and shipping costs are significantly
higher than normal, principally caused by the effects of
COVID-19.
-ends-
Enquiries:
Focusrite plc:
Tim Carroll (CEO) +44 1494 462246
Sally McKone (CFO) +44 1494 462246
Panmure Gordon (Nominated Adviser
and Broker)
Freddy Crossley (Corporate
Finance) +44 20 7886 2500
Erik Anderson (Corporate Broking) +44 20 7886 2500
Belvedere Communications
John West +44 20 3687 2753
Llew Angus +44 20 3687 2754
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
Notes to Editors
Focusrite plc is a global audio products group that develops and
markets proprietary hardware and software products. Used by audio
professionals and musicians, its solutions facilitate the
high-quality production of recorded and live sound. The Focusrite
Group trades under eight established brands: Focusrite, Focusrite
Pro, Novation, Ampify, ADAM Audio, Martin Audio, Optimal Audio and
Sequential.
With a high-quality reputation and a rich heritage spanning
decades, its brands are category leaders in the music-making and
audio recording industries. Focusrite and Focusrite Pro offer audio
interfaces and other products for recording musicians, producers
and professional audio facilities. Novation and Ampify products are
used in the creation of electronic music, from synthesisers and
grooveboxes to industry-shaping controllers and inspirational
music-making apps. ADAM Audio studio monitors have earned a
worldwide reputation based on technological innovation in the field
of studio loudspeaker technology. Martin Audio designs and
manufactures performance-ready systems across the spectrum of sound
reinforcement applications. Sequential designs and manufacturers
high end analogue synthesizers.
The Focusrite Group has offices in four continents and a global
customer base with a distribution network covering approximately
160 territories.
Focusrite plc is traded on the AIM market, London Stock
Exchange.
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END
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