Focusrite (TUNE)

Sector:

Leisure Products

Index:

FTSE AIM 100

 385.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 595.00
  • 52 Week Low: 285.00
  • Currency: UK Pounds
  • Shares Issued: 59.21m
  • Volume: 13,655
  • Market Cap: £227.96m

Focusrite FY revenues and profits grow amid continued strong customer demand

By Iain Gilbert

Date: Tuesday 14 Sep 2021

LONDON (ShareCast) - (Sharecast News) - Music and audio products company Focusrite said on Tuesday that revenue, profits and cash flow had all "grown substantially" in the twelve months ended 31 August.
Focusrite now expects full-year revenues to be ahead of market expectations at approximately £173.0m, up from £130.0m in 2020, largely due to continued strong customer demand across its products and four months' contribution from recently acquired high-end synthesizer company Sequential.

The AIM-listed firm added that underlying earnings were also expected to be ahead of current market expectations, as gross margins had been maintained at similar levels to the prior year at the same time as Focusrite experienced "a substantial decrease" in travel and trade show costs due to the ongoing Covid-19 pandemic.

However, despite the strong demand for most of its products, Focusrite stated that it was continuing to experience supply constraints due to the global shortage of semiconductors and other components, while freight and shipping costs were also significantly higher than normal.

Chief executive Tim Carroll said: "The group continues to see increased demand for solutions that enable the creation and playback of audio content for music, postproduction, podcasting, and streaming.

"We remain optimistic about our future prospects as we continue to execute on our strategy of growing our core customer base and focusing on customer value, but in tandem we remain extremely vigilant of the challenges presented by the current disruption to the supply chain and the global shortage of semiconductors and other components as well as any further impact from the pandemic."

As of 1335 BST, Focusrite shares were up 0.17% at 1,718.0p.

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Focusrite Market Data

Currency UK Pounds
Share Price 385.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 595.00
52 Week Low 285.00
Volume 13,655
Shares Issued 59.21m
Market Cap £227.96m

Focusrite Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
26.1% below the market average26.1% below the market average26.1% below the market average26.1% below the market average26.1% below the market average
77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average
Price Trend
71.73% below the market average71.73% below the market average71.73% below the market average71.73% below the market average71.73% below the market average
81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average
Income
71.83% below the market average71.83% below the market average71.83% below the market average71.83% below the market average71.83% below the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Growth
72.9% below the market average72.9% below the market average72.9% below the market average72.9% below the market average72.9% below the market average
55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average

What The Brokers Say

Strong Buy 3
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Focusrite Dividends

  Latest Previous
  Interim Final
Ex-Div 09-May-24 28-Dec-23
Paid 10-Jun-24 31-Jan-24
Amount 2.10p 4.50p

Trades for 19-Jul-2024

Time Volume / Share Price
15:12 1 @ 390.00p
15:07 52 @ 384.90p
13:54 11 @ 380.00p
13:17 97 @ 384.90p
13:12 240 @ 380.00p

Focusrite Key Personnel

CEO Timothy Paul Carrol

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