SUPPLY CRUNCH STRIKES RECORDING EQUIPMENT FIRM

FOCUSRITE, a maker of audio recording equipment and microphones, warned of ongoing supply issues due to a global components shortage.

The firm, whose products have been used by artists including British singer and songwriter L Devine (above), noted in a brief update that it was ‘still experiencing supply constraints’ and that shipping costs remained ‘significantly higher than normal’.

Executive chairman Phil Dudderidge said the company was managing the issues as planned, although he added the challenges it was facing ‘remain unpredictable, not least because of the Omicron variant’.

Despite this, Focusrite said demand in the first quarter of its current year ‘remained strong overall’ and revenues were at expected levels.

Analysts at Peel Hunt remained positive, saying the firm had ‘structural tailwinds’ behind its demand levels.

Aside from its use in the music industry, Focusrite’s gear was used at the inauguration of President Biden in January this year. It has also provided equipment for TV programmes such as singing contest The Voice UK.