Business
Final Results for the Year Ended 31 August 2018
Final Results for the Year Ended 31 August 2018.
About this update from Focusrite Plc
[{"type":"text","content":"\n \nRNS Number : 8305H Focusrite PLC 20 November 2018 \n\nStrictly embargoed until: 07.00, 20 November 2018.\n \nFocusrite plc\n(\"the Company\" or \"the Group\")\nFinal Results for the Year Ended 31 August 2018\n \nFocusrite plc (AIM: TUNE), the global music and audio products company, announces Final Results for the year ended 31 August 2018.\n \nFinancial highlights\n· Group revenue grew by 13.7% (constant currency1: 15.3%) to £75.1 million (FY17: £66.1 million)\n· EBITDA2 grew by 18.1% to £15.5 million (FY17: £13.1 million)\n· Operating profit grew 26.1% to £11.9 million (FY17: £9.5 million)\n· Adjusted3 operating profit grew 22.6% to £11.6 million (FY17: £9.5 million)\n· Diluted earnings per share grew 22.3% to 18.1p (FY17: 14.8p)\n· Adjusted3 diluted earnings per share grew 18.9% to 17.6p (FY17: 14.8p)\n· Net cash of £22.8 million (FY17: £14.2 million)\n· Final dividend of 2.3p recommended, resulting in 3.3p for the year, up 22.2% on prior year\n \nOperational highlights\n· Once again, we experienced growth in both major segments (Focusrite and Novation) and in all reported geographic regions.\n· In Focusrite, all major ranges (Scarlett, Clarett, Red and RedNet) grew and the overall segment grew by 17.2%.\n· In Novation, the primary growth was in synthesisers following the launch of Peak, while the more established ranges such as Launch and Launchkey also grew, although at slower rates. Overall, Novation grew by 6.4%.\n· New efforts and investments in localised field personnel, marketing and support has increased net promoter scores (NPS) and driven widespread growth.\n· All major geographic regions grew: North America was up by 10.2%; Europe, Middle East and Africa by 18.1%; and the Rest of World by 13.3%.\n· Five new products launched over the year.\n· The software team continues to progress along its widened strategy of software development for both its own...