StockMarketWire.com - Music and audio equipment retailer Focusrite forecast a full-year profit 'significantly' ahead of market expectations, thanks to rising revenue and cost cutting.

But it also warned of supply constraints and higher freight and shipping costs.

Focusrite said demand had remained srong since the half-year period through February.

Revenue for the year through August was now expected to be ahead of market expectations.

Profit would be significantly ahead owing, in part, to a substantial decrease in travel and trade shows due to restrictions and changes in working practices caused by Covid-19.

'The board does not expect these cost savings to be recurring,' the company said.

'Despite the strong demand for most of the company's products, the board remains conscious of factors that are currently impacting operations adversely, in particular the previously reported effect of supply constraints due to the global shortage of semi-conductors and other components as widely reported by many manufacturers of electronics.'

'The group is experiencing continuing disruption to the supply chain; and freight and shipping costs are significantly higher than normal, principally caused by the effects of Covid-19.'


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