Focusrite PLC (LON:TUNE) reports a strong November, leaving its Q1 ahead year-on-year, a positive result compared with many retailers. While its wide international spread is helpful, uncertainties remain on consumer markets generally, on US tariffs and on Brexit. We retain a cautious forecasting stance, while the valuation reflects the ongoing potential of its market-leading brands.
A small…
With its December AGM, Focusrite updates on trading to November, which is only a month beyond the comment in the final results. We published an extended note, The song remains the same, in November 2018.
…but significant update
Trading was strong in the important month of November, having been ‘broadly similar’ in September and October. As a result, the first quarter ends ahead of Q118. The November result is significant because Q118 was itself a strong quarter driven by a boost in pre-Christmas demand.
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