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Focusrite PLC - High Wycombe, England-based software designer - Expects trading in the first six months of the year to be in line with expectations, ahead of its annual general meeting on Friday at noon. Anticipates its full-year performance to be second-half weighted, due to ongoing channel de-stocking in the first half. Its Content Creation division has seen underlying end-user registrations remain strong, while its Audio Reproduction division is still experiencing headwinds, in a ‘softening market following a post Covid boost’. Says its order pipeline remains strong.
‘Both our divisions remain focused on managing costs, maximising gross margins, and investing selectively to support future growth,’ Chair Phil Dudderidge says.
Current stock price: 195.60 pence, down 6.9% in London on Friday morning
12-month change: down 62%
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