Focusrite PLC AGM Statement and Update on Trading
RNS Number : 9573V
17 December 2021
Strictly embargoed until 07.00, 17 December 2021
("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
"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. "
- ends -
Focusrite plc +44 (0) 149 446 2246
Tim Carroll, Chief Executive Officer
Sally McKone, Chief Financial Officer
Investec Bank plc (Nominated Adviser
and Joint Broker) +44 (0) 20 7597 5970
Peel Hunt LLP (Joint Broker) +44 (0) 20 7418 8900
Belvedere Communications +44 (0) 20 3687 2756
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
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
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