LONDON (ShareCast) - (Sharecast News) - Focusrite's shares enjoyed a boost on Friday after the company changed its guidance and stated that full-year trading will now slightly exceed last year's results.
The global music and audio products company, which trades under the Focusrite and Novation brands around the world, will unveil further details at its annual general meeting at midday.

Phil Dudderidge, executive chairman of Focusrite, was expected to say: "When we announced our full year results on 20 November 2018, we commented that trading for the year to date was broadly similar to the prior year. November 2018 was a strong month and our revenue for the financial year to date is now ahead of the comparative period last year."

For context, the prior year saw revenue grow by 13.7% to £75.1m, while profit before tax grew by 23.2% to £11.7m in a performance that was strongly assisted by a pre-Christmas "burst of demand", resulting in a weighting in favour of the first half of the year.

Focusrite's shares were up 4.97% at 496.00p at 1041 GMT.

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