Focusrite trading as expected amid stocking headwinds

(Sharecast News) - Focusrite said in an update on Friday that trading for the first half of its financial year was expected to align with the board's expectations, with performance anticipated to be weighted towards the second half as channel destocking in the US eased. The AIM-traded audio hardware specialist said that in its content creation division, demand remained strong across the product range, as reflected in robust end-user registrations following the key Christmas and Thanksgiving sales period.

However, planned de-stocking efforts in the first half had affected near-term performance.

The audio reproduction division meanwhile faced a softening market following a post-pandemic boost, in line with its previous guidance.

Despite those headwinds, Focusrite highlighted a strong order pipeline supported by an expanded product portfolio.

"Both our divisions remain focused on managing costs, maximising gross margins, and investing selectively to support future growth," said non-executive chairman Phil Dudderidge.

At 0933 GMT, shares in Focusrite were down 4.76% at 200p.

Reporting by Josh White for Sharecast.com.