COPENHAGEN: Denmark’s Bang & Olufsen A/S (BO.KO) said Thursday it swung to a net profit in its fiscal third-quarter and maintained full-year guidance after seeing strong demand for new products across most of its markets.
The AV and B&O Play units are expected to show high single digit revenue growth for the 2014/15 financial year. Estimated earnings before interest and tax for the continuing business are expected to show a loss of DKK230 million-DKK260 million for the 2014/15 financial year.
The company, best-known for its upmarket televisions and sound systems, swung to a net profit of DKK17.3 million from a loss of DKK31.9 million in the year-ago period, on sales of DKK800 million, up from DKK674.5 million. Gross margin slipped to 39.9% from 42.7%.
