Focusrite PLC - High Wycombe-based music and audio products firm - Ahead of its annual general meeting at midday on Friday, says it is "optimistic" about the company's future prospects. Says it has continued to pursue its mergers & acquisition strategy. Nevertheless, says that in the first four months of the financial year ending August 31, its Content Creation division faced ongoing industry-wide market challenges, especially in Asia and in Europe, the Middle East and Africa regions. Whilst this has had some impact on sales, it notes that underlying registrations for its key Scarlett products reflect solid ongoing demand. Non-executive Chair Phil Dudderidge says: "We continue to see tangible results stemming from our strategic diversification efforts, which enhance our resilience in the face of global and industry-wide challenges."
Current stock price: 507.15 pence, down 3.4%
12-month change: down 36%
By Sabrina Penty, Alliance News reporter
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Focusrite (TUNE)