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 GBP2.3 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 GBP2 million at August 31, from GBP8.6 million at February 28, as it continues "to generate strong cash flows". Read More