Focusrite continues to grow throughout second half

Focusrite saw revenue, profits and cash grow during the second half of its financial year which it put down to a continued investment in its core categories and new programs.

The music and audio products company expects revenues for the year ending 31 August to be in line with market expectations at roughly £75m, up around 15% from the £66.1m reported during the same period last year.

Focusrite, which makes microphone preamps, consoles, equalisers and digital audio processing hardware and software, assured investors that it continues to be cash generative, driven by a combination of increasing profits coupled with "prudent working capital management". As of 31 August, net cash was £22.8m - a marked improvement on the £14.2m the group had on hand a year prior.

Chief executive Tim Carroll, said: "We are pleased with our full year results and the operational progress the business is making. Our core categories performed well and the business has grown year over year in all major regions, albeit at a slower rate in the second half as expected."

The AIM-listed firm expects to issue its final results for the year on 20 November.

As of 0820 BST, Focusrite shares had slipped 2.23% to 437.50p.