7:59 cut – TUNE, EIG

Focusright (TUNE) – FY Results

I previously held shares in this musical products producer, but sold out in January because they appeared overvalued for the pedestrian growth forecast. Forecasts were then upgraded and today modestly beaten but, despite a cash acquisition, unadjusted EPS was up just 11% in contrast to the premium PE of around 28 (both when I sold, and after likely upgrades today).

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