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 warns on FY profits amid 'challenging market conditions'

By Iain Gilbert

Date: Monday 18 Mar 2024

LONDON (ShareCast) - (Sharecast News) - Audio products business Focusrite warned on Monday that full-year revenue and profits would be lower than consensus estimates as a result of "challenging market conditions" and continued weakness in Asia.
Focusrite said revenues for the year ending 31 August were now anticipated to be no less than £155.0m, while underlying earnings were pegged to be in the range of £27.0m to £30.0m, with a heavier weighting towards H2 than in FY23. Consensus estimates for sales sat at £182.0m, while forecasts for EBITDA were £38.0m.

The AIM-listed group said its first-half performance was impacted by "similar factors across the group's geographic regions", noting that the global content creation market "continues to struggle" due to a number of macroeconomic issues. Content creation revenue in Asia showed "particular continued weakness", with now 18 months of continuous decline, the largest negative impacts being in China and Japan, and no improvement likely to take place in the remainder of the year.

However, notwithstanding the firm's "cautious outlook" for the current financial year, Focusrite said it remains "well-positioned for future growth", when market conditions in the content creation market improve, with a clear focus on increasing market share, and delivering new products as well as making targeted acquisitions.

As of 1300 GMT, Focusrite shares were down 27.34% at 279.75p.







Reporting by Iain Gilbert at Sharecast.com

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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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