15th Sep 2015 07:26
LONDON (Alliance News) - Music hardware and software supplier Focusrite PLC Tuesday said it will meet market expectations for its recently ended financial year.
According to a forecast provided by Morningstar, Panmure Gordon expects Focusrite to report a pretax profit of GBP7.2 million for the year to end-August.
During the year Focusrite introduced 19 new products, it said, including new audio interfaces for its Clarett range for professional recording artists and studios, and grid instruments for its Launchpad range for Electronic Dance Music. It said that initial market reaction for these new products has been "very positive". Additionally, its software team have continued development work, and its Launchpad application has now had 3.5 million downloads.
"We have had a great first year since our successful IPO in December last year and we are moving into the next financial year with some really excellent new products and good momentum. First product reviews suggest that they are being welcomed by the market. Product innovation remains one of the cornerstones of our success," said Executive Chairman Phil Dudderidge in a statement.
Focusrite said it will announce its full-year results in early December.
Shares in Focusrite were up 1.7% at 159.23 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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