Focusrite gains as it outruns expectations

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Focusrite gains as it outruns expectations

The price of shares in AIM-listed audio products firm Focusrite (LON:TUNE) climbed 6.02% to 673.20p (as of 10:45 BST) after it said that it was on track to outperform revenue and profit expectations for the year ending 31st August. Demand has been strong during lockdown, with a particularly notable rise in consumer product registration. It is expected that demand will revert to more normal levels going forward as restrictions ease around the world.

CEO Tim Carroll commented: “The increase in demand for Focusrite and ADAM products has been pronounced during the lock-downs and we are very grateful that so many people around the world are choosing our solutions for their creative needs. I would like to thank the resellers and the manufacturers for all the work that they have done during this period. Martin Audio and Focusrite Pro are now starting to turn the corner and we are optimistic about the long term opportunities in the markets they serve.

“Finally, I would like to thank our employees who have done an amazing job acclimatising so quickly to a home-working environment and worked incredibly hard. The Group has performed well across all departments in these very trying times“.

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