Focusrite PLC Trading Update (8641Z)
March 20 2017 - 2:00AM
UK Regulatory
TIDMTUNE
RNS Number : 8641Z
Focusrite PLC
20 March 2017
Strictly embargoed until: 07.00, 20 March 2017
Focusrite Plc
("the Company")
Trading Update
Focusrite Plc (AIM: TUNE), the global music and audio products
company supplying hardware and software products used by
professional and amateur musicians around the world, is pleased to
report that in the first half of the year good progress was made in
both the Focusrite and Novation divisions and in all three reported
regions, particularly in our important US market.
As a result, revenue is expected to be approximately GBP32.0
million for the six months ended 28 February 2017, up from GBP25.9
million in the same period last year. This represents an increase
of around 12% on a constant currency basis.
Cash conversion was also strong during the period and as at 28
February 2017 net cash was GBP9.4 million, compared with GBP4.0
million on 29 February 2016.
The Company will issue its Interim Results for the six months
ended 28 February 2017 on 3 May 2017.
Tim Carroll, Chief Executive commented:
"The business has continued to perform well in the first half of
the current financial year with strong sales from our key Focusrite
products globally. Additionally, sales of our Launchpad products
from Novation have also shown significant growth against the
comparable period. I look forward to updating investors in more
detail at the time of our Interim Results announcement."
- ends -
Enquiries:
Focusrite Plc:
Tim Carroll (CEO) +44 1494 836301
Jeremy Wilson (CFO) +44 1494 836301
Panmure Gordon:
Freddy Crossley +44 20 7866 2968
Tom Salvesen +44 20 7866 2904
Belvedere Communications:
John West +44 20 3567 0510
Kim Van Beeck +44 20 3567 0510
Notes to Editors
Focusrite is a global music and audio products group supplying
hardware and software products used by professional and amateur
musicians, which enables the high quality production of music.
The Group has two established and rapidly growing brands:
Focusrite and Novation. The Focusrite brand makes audio interfaces
and other products for audio recording musicians. The Novation
brand allows its customers to make electronic music using
synthesisers and computer-enabled technology.
The Group has a global customer base with a distribution network
covering approximately 160 territories. Focusrite is headquartered
in High Wycombe, United Kingdom with marketing subsidiaries in Los
Angeles and Hong Kong, and has around 170 employees.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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