(Alliance News) - Audio products firm Focusrite PLC on Friday said first-quarter group revenue has risen, helped by an acquisition.
In July, Focusrite completed the EUR18 million takeover of Pro Audio GmbH, a German studio monitor loudspeaker maker. This has driven revenue growth in the quarter ended November, it said.
Within the Focusrite and Novation units, first-quarter product revenue is similar year-on-year. Total revenue within the two units is lower, however, due to a one-off gain a year prior as well as a stronger pound.
On Thursday, Focusrite announced the GBP39.2 million acquisition of Martin Audio Ltd, a fellow High Wycombe-based firm which makes professional sound systems.
Shares were 1.8% lower on Friday afternoon in London at a price of 602.00 pence each.
By George Collard; georgecollard@alliancenews.com
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Focusrite (TUNE)