Focusrite (TUNE)

Sector:

Leisure Products

Index:

FTSE AIM 100

385.00p
   
  • Change Today:
    -2.50p
  • 52 Week High: 595.00
  • 52 Week Low: 285.00
  • Currency: UK Pounds
  • Shares Issued: 59.21m
  • Volume: 35,822
  • Market Cap: £227.96m

Focusrite on track to meet full-year targets

By Abigail Townsend

Date: Friday 03 Feb 2023

LONDON (ShareCast) - (Sharecast News) - Focusrite reiterated its full-year outlook on Friday, despite industry-wide weakness across its Asian markets.
Updating on trading, the audio products specialist, which supplies both professional and amateur musicians with hardware and software, said trading across its content creation and audio businesses in the first four months of the year had been in line with expectations.

This was despite experiencing industry-wide weakness in its Asian markets, the AIM-listed firm noted, with Focusrite-branded products adversely impacted by the planned earlier phasing of inventory sell-in to the channel ahead of the key holiday season.

Phil Dudderidge, chair, said: "However, pleasingly the sell-through of our Content Creation brand products has been robust through this period."

Gross margins had also benefited from reduced freight costs, he added, while supply chain issues were easing.

Dudderidge concluded: "Board expectations for the full-year remain unchanged and anticipate a weighting towards the second half of the year, due to the timing of the product launches."

Focusrite is currently targeting acquisitions that boost its market potential as well as being earnings enhancing, and in December acquired smaller rival Sonnox in a £9.1m deal.

Focusrite said the integration was going well. "2023 is a year for consolidating our leading market positions, supported by significant new product launches and upgrades planned for the latter part of the year, which will underpin future growth," said Dudderidge.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Focusrite Market Data

Currency UK Pounds
Share Price 385.00p
Change Today -2.50p
% Change -0.65 %
52 Week High 595.00
52 Week Low 285.00
Volume 35,822
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
25.85% below the market average25.85% below the market average25.85% below the market average25.85% below the market average25.85% 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
66.86% below the market average66.86% below the market average66.86% below the market average66.86% below the market average66.86% 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
70.52% below the market average70.52% below the market average70.52% below the market average70.52% below the market average70.52% 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
73.09% below the market average73.09% below the market average73.09% below the market average73.09% below the market average73.09% 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 12-Jul-2024

Time Volume / Share Price
16:28 5,000 @ 385.00p
16:35 40 @ 385.00p
16:35 40 @ 385.00p
16:28 5,000 @ 385.00p
16:24 64 @ 388.00p

Focusrite Key Personnel

CEO Timothy Paul Carrol

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