Business
Final Results for the Year Ended 31 August 2017
Final Results for the Year Ended 31 August 2017.
About this update from Focusrite Plc
[{"type":"text","content":"\n \nRNS Number : 0202X Focusrite PLC 21 November 2017 \n\nStrictly embargoed until: 07.00, 21 November 2017.\n \nFocusrite Plc\n(\"the Company\" or \"the Group\")\nFinal Results for the Year Ended 31 August 2017\n \nFocusrite Plc (AIM: TUNE), the global music and audio products company, announces Final Results for the year ended 31 August 2017.\n \nFinancial highlights\n· Group revenue grew by 21.6% (constant currency3: 13%) to £66.1 million (FY16: £54.3 million)\n· Adjusted EBITDA1 grew by 27.9% to £13.1 million (FY16: £10.2 million)\n· Operating profit grew 32.6% to £9.5 million (FY16: £7.1 million)\n· Profit before tax grew 33.5% to £9.5 million (FY16: £7.1 million)\n· Basic earnings per share grew 30.5% to 15.4p (FY16: 11.8p)\n· Adjusted2 diluted earnings per share grew 29.8% to 14.8p (FY16: 11.4p)\n· Net cash of £14.2 million (FY16: £5.6 million)\n· Final dividend of 1.95p recommended, resulting in 2.7p for the year, up 38% on prior year \nOperational highlights\n· Strong growth continued across both our major segments, Focusrite and Novation\n· In Focusrite, Scarlett, Clarett and RedNet ranges all grew, leading to total segment revenue growth of 18.6%\n· In Novation, the growth of Launchpad and Launchkey both accelerated resulting in segment revenue growth of 37.8%\n· All major geographic regions grew, including the USA, our largest market, where revenue growth was 30.9% in the year\n· Ten new products launched over the year with positive early industry and user feedback \n· Continued investment in the Software division has generated continued growth - now three apps with approximately 550,000 active users\n· e-commerce website now established and delivering products globally \n \n1 Comprising of earnings adjusted for interest, tax...