Focusrite PLC (AIM:TUNE), the home studio recording specialist, said margins are starting to pick up again due to lower freight costs, an easing in other supply chain issues and higher pricing for its products.
Phil Dudderidge, chairman, added that this year will be one of consolidation, even so, with demand in the year to August 2023 in line with expectation though there had been some weakness in Asia and a knock-on from stock adjustments.
“However, pleasingly, the sell-through of our Content Creation brand products has on the whole been robust through this period,” he added.
“Board expectations for the full year remain unchanged and anticipate a weighting towards the second half of the year due to the timing of product launches,” he added ahead of its AGM.
Recent acquisition Sonnox is integrating well, Dudderidge noted, while significant new product launches and upgrades are planned for the latter part of the year.