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Focusrite PLC - AGM Statement and Update on Trading

RNS Number : 5658X
Focusrite PLC
20 December 2019
 

Strictly embargoed until 07.00, 20 December 2019

 

Focusrite plc

AGM 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, will today hold its Annual General Meeting (AGM) at 12.00 noon at the offices of Stephenson Harwood LLP, 1 Finsbury Circus, London, EC2M 7SH.

 

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

 

"For the group as a whole, revenue is higher than the equivalent period in the prior year, helped by the acquisition of ADAM Audio in July 2019.  

 

Consistent with the statement made when we announced our full year results on 19 November 2019, ADAM Audio has finished the first quarter in line with our expectations and ahead of prior year.  Within the Focusrite and Novation businesses, first quarter product revenue has been similar to the prior year, although total revenue is lower due to a one-off gain in Q1 FY19 and the adverse effect of the strengthening GBP in Q1 FY20."

 

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Enquiries:

 

Focusrite plc:                                                                                                     +44 1494 836301

 

Tim Carroll (CEO)             

Jeremy Wilson (CFO)     

 

Panmure Gordon (Nominated Adviser and Broker)                                 +44 20 7886 2500

 

Freddy Crossley / Alina Vaskina

Erik Anderson

 

Belvedere Communications                                                                          +44 20 3687 2756

 

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 music and audio products group that develops and markets proprietary hardware and software products. Used by recording professionals and musicians alike, its solutions facilitate the high-quality production of recorded and live sound. The Focusrite Group trades under six established brands: Focusrite, Focusrite Pro, Novation, Ampify, ADAM Audio and Martin Audio.

 

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, with a highly developed portfolio of products to meet the exacting demands of a host of different markets. Renowned for integrity in design, technical excellence and the longevity of its products, Martin Audio systems are designed with in-built sound qualities artists can rely on to faithfully reproduce their performance to every corner of the auditorium.

 

The Focusrite Group has a global customer base with a distribution network covering approximately 160 territories. Both Focusrite and Martin Audio Ltd are headquartered in close proximity to each other, in High Wycombe, UK, with marketing offices in Los Angeles and Hong Kong.  ADAM Audio has offices in Berlin, Nashville and Dongguan. Martin Audio has a US subsidiary, based in Los Angeles. Focusrite plc is traded on the AIM market, London Stock Exchange.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Focusrite PLC

Price: 690

Market: AIM
Market Cap: £400.97 m
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