Dialling down in revenues after lockdown crescendo for audio products company Focusrite

focusrite

Supply chain issues and the end of lockdown have seen a dialling down in revenues for High Wycombe-based audio products company Focusrite.

Half year results published this week show revenue down by 2.5 per cent compared with the first half of 2021. This was driven by a 11.7 per cent fall to £65.4 million (HY21 £74 million) as the demand for home music creation solutions tapered off from “unprecedented high levels” during the peak of lockdown.

Meanwhile, Adam Audio, which makes speakers for studios, saw revenue fall by 33.1 per cent because of “component shortages”.

However, losses were partly offset by 44 per cent growth at Martin Audio which supplies and installs equipment for live concerts.

“The group’s continued diversification of its portfolio, routes to market, and logistics served us well during the first half, enabling us to perform well despite many challenging global macro-economic issues at play,” CEO Tim Carroll told shareholders.

He continued: The outlook for our industry remains positive, pointing towards continued growth in the content creation market, as well as a robust return to live events.

“With our current portfolio, planned product introductions and continued focus on our growth strategy, including acquisitions, such as Linea Research acquired in March, we believe the group is well-positioned for a successful second half and remains on track to meet our expectations for the full year against an easier year on year comparator.”