Denmark’s Bang & Olufsen Posts 39% Profit Rise

18 August 2004

Upmarket audio and video product manufacturer Bang & Olufsen is making sweet music with its fiscal full-year profits, which are up by 39%.

The company recorded net profits for the year ending May 31 of 264 million kroner ($43.8m; €35.5m; £23.8m), up from 190m kroner the previous year.

Pretax profits also saw a rise of 18% to 341m kroner, helping to offset the 9% fall in full-year sales from 3.97bn kroner to 3.61bn kroner.

The Struer, Denmark-based company suffered the effects of the weak US dollar and reduced sales in Germany, Switzerland, Italy and the Netherlands.

Sales in other countries were more successful, however, as new products were particularly well received in the US, UK, Asia, Sweden and Norway. This contributed to the first fourth-quarter sales rise for a year and a half of 7%.

Data sourced from: The Wall Street Journal Online; additional content by WARC staff