IN BRIEF: Focusrite stands by full-year consensus as revenue ticks up

Focusrite PLC - High Wycombe, England-based software company - Issues trading update for the six months ended August 31. Says it expects to report 3% revenue growth, improved underlying operating profit and strong cash generation. Says gross margins improved, which reflect "continued pricing discipline, active supply chain management, and [its] ongoing focus on operational efficiency." Adds that the results benefit from US tariff refunds from prior periods worth approximately £2.3 million in total. Results will treat this as an adjusting item. Content Creation division delivers 4% revenue growth, while Audio Reproduction revenue declines 4% due to "weakness in China" but orders rising 12% compared to the prior half year. Expects net debt as of August 31 to be "significantly" lower at around £2 million at August 31, from £8.6 million at February 28, as it continues "to generate strong cash flows".

Focusrite's expectations for the year ending February 28, 2027 are unchanged, as its "strong first half performance, healthy continuing underlying demand across the group's portfolio and disciplined management of margins and costs" provide "confidence in the group's prospects". Cites market forecasts of £170.1 million to £173.7 million in revenue, £25.2 million to £27.4 million in adjusted earnings before interest, tax, depreciation and amortisation, and £15.6 million to £17.5 million in adjusted operating profit. Expects to announce interim results in early November.

Current stock price: 248.00 pence, down 7.3% in London on Wednesday afternoon

12-month change: up 31%

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