Focusrite improves FY pre-tax profit, hikes total dividend

Global music and audio products company Focusrite has posted an improved full-year pre-tax profit and hiked its total dividend.

Executive chairman Phil Dudderidge said the company had enjoyed an excellent second year of trading as a public company.

"We have continued to grow revenue and correspondingly our profits as we deliver on our strategic goals," he added.

Dudderidge added that there were several drivers for this increase, including an improving market share globally, a strong performance from new and existing products, and a number of new sales, marketing and distribution initiatives.

Pre-tax profit for the 12-month period was £7.1m, from £6.5m, with revenue up at £54.3m, from £48.0m. It proposed a final dividend of 1.3p, taking the total to 1.95p, from 1.8p.

At about 11:32 GMT, shares in AIM-quoted Focusrite were up 9.7% to 181p.