AGM Statement and Update on Trading

RNS Number : 9573V

Focusrite PLC

17 December 2021

 

Strictly embargoed until 07.00, 17 December 2021

Focusrite plc

("the Company" or   "the Group")

Annual General Meeting Statement and Update on Trading

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, will today hold its Annual General Meeting ("AGM") at the offices of Stephenson Harwood LLP, 1 Finsbury Circus, London EC2M 7SH at 12 noon.

As previously advised, in light of the continuing unpredictability of the COVID-19 pandemic and the spread of the Omicron variant, shareholders have been strongly encouraged to not attend the AGM in person. 

At the AGM, Phil Dudderidge, Executive Chairman, will make the following statement regarding current trading:

"During the first quarter of the current financial year, demand has remained strong overall and revenues have been in-line with management expectations, which take account of the strong comparators in the first half of the prior year.  Recent acquisitions continue to settle in well, benefitting from being part of the Group, and our numerous cross-business initiatives are expected to have a positive effect in the latter part of FY22 and into FY23. 

"We are still experiencing supply constraints due to the global shortage of components and tightness in supply chains.  In addition, freight and shipping costs remain significantly higher than normal. Although these challenges remain unpredictable, not least because of the Omicron variant, we are currently managing them in line with our expectations. "

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Enquiries:

Focusrite plc	[phone]
Tim Carroll, Chief Executive Officer
Sally McKone, Chief Financial Officer
Investec Bank plc (Nominated Adviser and Joint Broker)	[phone]
David Flin
William Brinkley
Charlotte Young
Peel Hunt LLP (Joint Broker)	[phone]
Edward Knight
Michael Burke
James Smith
Belvedere Communications	[phone]
John West
Llew Angus

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 manufactures high end analogue synthesizers.

The Focusrite Group has offices in four continents and a global customer base with a distribution network covering   approximately  240 territories.

Focusrite plc is traded on the AIM market, London Stock Exchange.

 

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