REG - Focusrite PLC - AGM Statement and Update on Trading

FocusriteAnnouncement

17/12/2021 07:00

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RNS Number : 9573V  Focusrite PLC  17 December 2021

Strictly embargoed until 07.00, 17 December 2021

Focusrite plc

("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 into FY23.

"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 -

Enquiries:

 

 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
 David Flin
 William Brinkley
 Charlotte Young

 Peel Hunt LLP (Joint Broker)                            +44 (0) 20 7418 8900
 Edward Knight
 Michael Burke
 James Smith

 Belvedere Communications                                +44 (0) 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 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 Pro, 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 Exchange.

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