Focusrite PLC (LSE: TUNE)

Focusrite PLC (LSE: TUNE) is an FTSE AIM 100 index listed global music and audio products entity. The Company is principally engaged in developing and marketing hardware and software products used by recording professionals and musicians.

The Company will release H1 FY23 results in late April 2023.

Market Updates:

• H1 FY23 Trading Statement (released on 14 March 2023):
  • The revenue is expected to be at least £85 million during H1 FY23.
  • Net debt as of 28 February 2023 was £14 million.
  • The Group has a bank facility of around £40 million at the end of H1 FY23.
• Acquisition of Sonnox Limited: On 20 December 2022, the Company has announced the acquisition of Sonnox Limited which is a leading designer of audio processing software plug-ins for professional audio engineers. The total consideration for this deal is £9.1 million.
• FY22 Results (for the year ended 31 August 2022) – released on 08 December 2022:
  • The YoY revenue growth of around 5.6% during FY22 was driven by a significant revenue increase in Martin Audio and Sequential division.
  • On the profitability front, the gross margin was adversely impacted by the one off duty benefit in the prior year.
  • The Company had paid a final dividend of 4.15 pence per share on 17 February 2023, while the ex-dividend date was 12 January 2023.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Focusrite PLC was trading at the closing price of GBX 665.00 (as of 15 March 2023).

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

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 15 March 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

Note 4: Dividend Yield may vary as per the stock price movement.

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