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Highlights
- Focusrite PLC (LSE:TUNE) is a FTSE AIM 100 index listed consumer electronics company engaged in developing and marketing audio and music products.
- During H1 FY23, the company launched 21 new products with an investment of about 3% of the total revenue.
- The company registered a year-on-year growth of around 13.5% in interim dividend per share in H1 FY23.
FTSE AIM 100 index-listed consumer electronics stock Focusrite PLC (LSE:TUNE) is principally engaged in developing and marketing audio and music products. During the first half of the fiscal year 2023, the company launched 21 new products with an investment of about 8.3% of the total revenue. The new innovations included a Sequential synthesiser and Martin speakers.
For H1 FY23, the company registered a year-on-year growth of around 13.5% in interim dividend per share.
A better-equipped inventory in the channel and the growing footprint, the buoyant live sound market are pushing the company's outlook upward for the second of the year (H2 FY23).
With the successful acquisition of Linea Research and Sonnox, the company is expecting it to contribute significantly to the top-line business during H2 FY23.
According to TUNE, FY23 will be a year of strengthening the top market positions, on the grounds of new product launches and upgrades scheduled for the second half of the year. It will continue to focus on defined growth plans that works on organic growth and worthwhile mergers and acquisitions.
Top 10 shareholders
Approximately 81.60% of the total shareholdings of the company are held by its top ten shareholders. While Dudderidge (Philip Stephen) holds the maximum number of shares with over 32.54% stakes, Sanford DeLand Asset Management Limited owns nearly 9.87% shareholding.
Stock Price Performance
In the past one month, the company’s share price has jumped by over 14.85%. It has dropped by about 28.39% in the last six months. The stock’s 52-week low and 52-week high price stands at GBX 410.00 and GBX 1,160.00, respectively.
Data Source: EODHD/Others, Analysis done by Kalkine Group
Please note markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 25 July 2023. The reference data in this report has been partly sourced from EODHD/Others.
