Focusrite PLC AGM Statement and Update on Trading (5658X)
December 20 2019 - 2:00AM
UK Regulatory
TIDMTUNE
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."
- ends -
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 rns@lseg.com or visit www.rns.com.
END
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