Bang & Olufsen: double-digit growth in first quarter.
(CercleFinance.com) - Danish upmarket electronics maker Bang & Olufsen posted double-digit growth and improved its profitability in the first quarter of FY 2017/2018, thanks to product launches, although the group still recorded a loss over the period.
The group reported revenue growth of 15%, driven by double-digit growth in both Bang & Olufsen (+13%) and B&O Play (17%), its consumer products division.
The company said it launched several new innovative products in the past quarter, including new speakers, a new TV screen and new earplugs.
"Overall, we have had a satisfactory start and we are on track for the year,” said CEO Henrik Clausen.
Still, quarterly EBIT was still negative, at -65 million Danish kronor compared to -89 million Danish kronor in the same period a year ago.
The shares, which are listed on Nasdaq Nordic, were up 3% at 137.5 Danish kronor today after these results.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The group reported revenue growth of 15%, driven by double-digit growth in both Bang & Olufsen (+13%) and B&O Play (17%), its consumer products division.
The company said it launched several new innovative products in the past quarter, including new speakers, a new TV screen and new earplugs.
"Overall, we have had a satisfactory start and we are on track for the year,” said CEO Henrik Clausen.
Still, quarterly EBIT was still negative, at -65 million Danish kronor compared to -89 million Danish kronor in the same period a year ago.
The shares, which are listed on Nasdaq Nordic, were up 3% at 137.5 Danish kronor today after these results.
Copyright (c) 2017 CercleFinance.com. All rights reserved.