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Pin to quick picksFocusrite Share News (TUNE)

Share Price Information for Focusrite (TUNE)

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Share Price: 380.00
Bid: 370.00
Ask: 390.00
Change: 0.00 (0.00%)
Spread: 20.00 (5.405%)
Open: 380.00
High: 380.00
Low: 380.00
Prev. Close: 380.00
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AIM WINNERS & LOSERS: Gear4music warns on Brexit supply chain issues

Tue, 16th Nov 2021 11:00

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

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AIM - WINNERS

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Victoria Oil & Gas PLC, up 49% at 4.26 pence, 12-month range 2.7p-7.42p. Says perforations have been successfully added to well La-108 safely and under budget and an additional 42 metres of net pay has been added in the Upper Logbaba Formation in the well. In first few days of production, well has supplied up to 7.5 million standard cubic feet per day with a flowing wellhead pressure of over 200 barg. Chief Executive Roy Kelly is "absolutely delighted" with the result.

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Focusrite PLC, up 7.2% at 1,608.55p, 12-month range 910.08p-1,830p. The music and audio products company reports 34% growth in annual revenue to GBP173.9 million for financial year ended August 31 and pretax profit jumps to GBP35.0 million from just GBP7.0 million. Lifts dividend by 24% to 5.2p. Momentum continues into new financial year, with demand for vast majority of company's products remaining strong. "Our roadmap across all the brands remains robust, with many new product introductions planned to occur later in FY22. Accordingly, we are now cautiously optimistic about the prospects for modest revenue growth in the current year," it says.

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Zenova Group PLC, up 7.6% at 19.9p, 12-month range 15.02p-24.2p. Says its Zenova FP fire-resistant paint has been approved for use by the London Borough of Redbridge. This paves way for the paint to be used by contractors in local authority owned buildings. It notes: "Zenova FP became specified as a fire-resistant paint by the London Borough of Redbridge after Pelling LLP...included it in the specification for the refurbishment of Ilford High Road Deco Building; a project Pelling is managing on behalf of the London Borough of Redbridge."

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AIM - LOSERS

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Gear4music Holdings PLC, down 13% at 698p, 12-month range 627p-1,020p. Says third-quarter revenue to date is slower than expected due to Brexit-related supply chain challenges. "As such the board believes that results for the financial year will be lower than recently upgraded consensus market expectations," the online musical instruments and equipment retailer says. Board now expects full-year earnings before interest, tax, depreciation and amortisation to no less than GBP12 million, which would be down from GBP18.9 million in the prior financial year and below market consensus for GBP14 million.

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Coro Energy, down 10% at 0.26p, 12-month range 0.23p-0.8p. Signs agreement to jointly develop Vietnamese solar asset owner VPE's existing 150 megawatt portfolio of commercial and industrial rooftop solar PV installations. Coro will take an 85% stake in a newly formed joint venture to be named Coro Renewables Vietnam, with initial funding by Coro of USD500,000 to immediately develop a 5 megawatt pilot rooftop project through to 'Ready to Build' status

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Dotdigital Group PLC, down 9.2% at 227p, 12-month range 132.5p-295p. The marketing software company reports full-year organic revenue growth of 23% to GBP58.1 million in "strongest year to date amid pandemic-related challenges". Says that, as it enters the new year, trading environment is more normalised. "Although restrictions are easing and vaccination programmes are under way in most territories, Covid-19 will continue to be a risk factor for the foreseeable future, and not all its after effects will be easy to foresee. We therefore need to continue to monitor its impact on our customer base, and be ready to respond accordingly," it says.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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3 Feb 2023 08:57

IN BRIEF: Focusrite backs annual expectations as margins improve

Focusrite PLC - Buckinghamshire-based music and audio products - Says trading in the first four months of the new financial year has been in line with expectations across its Content Creation and Audio Reproduction businesses. Full-year expectations remain unchanged. Expects a weighting towards the second half of financial 2023 "due to the timing of product launches," Focusrite says.

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3 Feb 2023 07:49

Focusrite on track to meet full-year targets

(Sharecast News) - Focusrite reiterated its full-year outlook on Friday, despite industry-wide weakness across its Asian markets.

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27 Jan 2023 15:48

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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18 Jan 2023 14:55

IN BRIEF: Focusrite CEO Tim Carroll sells GBP116,000 in shares

Focusrite PLC - Buckinghamshire-based music and audio products - Chief Executive Officer Tim Carroll sells 15,000 shares at 773.67 pence, worth GBP116,050, on Monday. Now has 92,718 shares, a 0.2% stake.

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12 Jan 2023 09:49

Berenberg initiates coverage on Focusrite at 'buy'

(Sharecast News) - Analysts at Berenberg initiated coverage on audio-products company Focusrite with a 'buy' rating and 1,100.0p target price on Thursday, citing a number of near-term tailwinds and M&A optionality.

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TRADING UPDATES: Predator buys majority in Cory Moruga; Thor tips gold

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Focusrite snaps up Sonnox for £9.1m

(Sharecast News) - AIM-listed audio products specialist Focusrite said on Tuesday that it has snapped up smaller rival Sonnox.

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Focusrite profit down, revenue up; declares increased dividend

(Alliance News) - Focusrite PLC on Thursday said profit was down despite higher revenue as costs increased, while it declared an increased final dividend to shareholders.

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Focusrite FY pre-tax profits slip as costs rise

(Sharecast News) - Music and audio products group Focusrite said on Thursday that full-year pre-tax profits had fallen amid an uptick in costs.

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Revenue meets forecasts but earnings set to miss for Focusrite

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(Alliance News) - Focusrite PLC shares fell on Wednesday as a warning that its annual earnings will fall short of expectations struck the wrong note with investors.

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