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Highlights

  • Focusrite PLC (LSE: TUNE) has launched total 21 new products, including a new Sequential synthesiser and a variety of Martin speakers.
  • In H2 FY23, the company’s revenue for Audio Reproduction division saw a double-digit growth as compared to H2 FY22.
  • In the reporting period, TUNE successfully integrated the acquisition of Linea Research and Sonnox, which have contributed significantly to the business revenue.

FTSE AIM 100 index listed Focusrite PLC (LSE: TUNE) is an international music and audio products company focused on developing and marketing hardware and software for recording professionals and musicians. Total 21 new products have been launched by the firm, including a new Sequential synthesiser and a variety of Martin speakers.

In H2 FY23, the company’s revenue for Audio Reproduction division saw a double-digit growth as compared to H2 FY22. For the reporting period, the interim dividend per share of the company witnessed nearly 13.5% year-on-year (YoY) growth. As of 31 August 2023, the company’s net debt was recorded at £1.5 million.

Focusrite paid an interim dividend of 2.10 pence per share in the month of June this year, with the ex-dividend date of 11 May 2023.

In H2 FY23, the company successfully integrated the acquisition of Linea Research and Sonnox, which have contributed significantly to the business revenue. Consequently, the company has a positive outlook for the year ahead because of a stronger inventory in the channel and an improved position in the buoyant live sound market.

For the full fiscal year 2023, the company is expecting its top-line business to be around £177 million. It’s EBITDA is likely to range between £38.2 million and £39.0 million.

 

Top 10 Shareholders:

Around 76.87% of the total shareholdings is held by its top ten shareholders. While Dudderidge (Philip Stephen) is the biggest shareholder with a shareholding of around 32.54%, Sanford DeLand Asset Management Limited owns over 9.87% shareholding in the company.



Stock Price Performance

TUNE’s stock price has fallen by approximately 3.70% in the last one month. It has declined by 21.59% over the past six months. The 52-week low and high price of the stock stand at GBX 410.00 and GBX 870.00, respectively.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 13 November 2023. The reference data in this report has been partly sourced from EODHD/Others.