REG - Focusrite PLC - Notice: Final Results, Change of Year End, Auditor

FocusriteAnnouncement

30/10/2024 07:00

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RNS Number : 1293K  Focusrite PLC  29 October 2024

Focusrite plc

("Focusrite", "the Company" or "the Group")

Notice of Final Results, Change of Year End, Change of Auditor

Focusrite plc (AIM: TUNE), the global music and audio products group
supplying hardware and software used by professional and amateur musicians and
the entertainment industry, confirms that it will announce its final results
for the year to 31 August 2024 on Wednesday, 27 November 2024.  The Company
also announces that it plans to change its financial year end from 31 August
to 28 February and that, following a tender process, it intends to appoint a
new external audit firm.

Notice of Final Results

The Group will announce its Final Results for the year to 31 August 2024 on
Wednesday, 27 November 2024.

Analyst meeting

A live online meeting for analysts will be held at 10:30am on 27 November 2024
on the Investor Meet Company platform.  This meeting is only open to
analysts.  If you are an analyst and would like to attend this meeting,
please send an email to: langus@rosewoodpr.co.uk

Log in details for the meeting will be communicated to attendees ahead of the
briefing.   Questions can be submitted pre-event via the Investor Meet
Company dashboard up until 9am the day before the meeting or at any time
during the live meeting.

Investor presentation

A live online presentation open to all existing and potential investors will
be held at 11am on 29 November 2024 on the Investor Meet Company platform. If
you would like to attend this online presentation, please sign up via the
following link:

https://www.investormeetcompany.com/focusrite-plc/register-investor

Questions can be submitted pre-event via the Investor Meet Company dashboard
up until 9am the day before the presentation or at any time during the live
presentation.

Change of Financial Year End

The Audit Committee has reviewed the date of the Company's financial year end
and, to align better with industry cycles, especially around the key holiday
season sales, the Company intends to change its accounting reference date and
financial year end from 31 August to 28 February.  The transition will take
place in order that, following the publication of the full year results to 31
August 2024, the Company will report its next audited results for the 18 month
period to 28 February 2026.  The schedule of financial reporting events for
Focusrite, will therefore be as follows:

(i)            Publication of unaudited interim results for the six
months ended 28 February 2025 - by 31 May 2025;

(ii)           Publication of unaudited interim results for the 12
months ended 31 August 2025 - by 30 November 2025; and

(iii)          Publication of audited accounts for the 18 month
period ended 28 February 2026 - around end of June 2026.

In due course, the Group will provide appropriate pro forma information to aid
analyst modelling.

Change of Auditor

The Company announces that, following a formal and competitive tender process,
led by the Company's Audit Committee, it intends to appoint Ernst & Young
LLP ("EY") as the Company's auditor, following the conclusion of the current
audit of the Company's results for the year ended 31 August 2024 by KPMG.

Shareholder approval to confirm the appointment of EY as its external auditor
will be sought at the 2024 Annual General Meeting expected to be held in
January 2025.

Mike Butterworth, Chair of Focusrite Audit Committee, commented:

"KPMG have been our auditor since and prior to our flotation on AIM ten years
ago. Accordingly, and in line with best practice, we have carried out a tender
process and have decided to appoint EY.  The Board would like to thank KPMG
for the many years of professional and diligent work with the Group."

-Ends-

 Enquiries:
 Focusrite plc                                           +44 (0) 1494 462246
 Tim Carroll (CEO) / Sally McKone (CFO)
 Investec Bank plc (Nominated Adviser and Joint Broker)  +44 (0) 20 7597 5970
 David Flin / Nick Prowting
 Peel Hunt LLP (Joint Broker)                            +44 (0) 20 7418 8900
 Ben Cryer / Adam Telling
 Rosewood (Financial PR)                                  +44 (0) 20 7653 8702
 John West / Llewellyn Angus / Lily Pearce

 

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 thirteen established brands:
Focusrite, Focusrite Pro, Novation, Ampify, ADAM Audio, Martin Audio, Optimal
Audio, Linea Research Sequential, Oberheim, Sonnox, OutBoard and TiMax.

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 synthesizers 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. Linea designs, develops, manufactures and sells market
innovative professional audio equipment globally. Sequential designs and
manufactures high end analogue synthesizers under the Sequential and Oberheim
brands. Sonnox is a leading designer of innovative, high-quality,
award-winning audio processing software plug-ins for professional audio
engineers. TiMax specialises in innovative immersive audio and show control
technologies. OutBoard manufactures and sells industry standard rigging
control products for live events, together with enterprise-level safety test,
preparation and quality management for global rental companies and venues.

The Company 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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