Linn Products returns to profit in wake of COVID
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Linn Product's No.3 Speaker
Eaglesham-based music systems business Linn Products has posted a 17% rise in annual sales to £19.1 million for the year to June 30 after a £636,000 pre-tax loss last year.
The firm’s pre-tax profits more than doubled from last year to £1.69 million.
Linn Products said it invested £1.92m in the year to June 30 in research and development, down from £2.23m the prior year.
The firm said investment during the year went into further developing its new audio technology, Exakt, which was launched in September 2019 to mark the company’s 40th anniversary.
The company’s R&D spend for the year also included ongoing development of its suite of hi-fi, home theatre and multi-room products.
In accounts now filed with Companies House, Linn Products has revealed its sales growth in all of the markets in which it operates.
Sales in the UK rose to £4.63m (2013: £4.2m) while in the rest of Europe, sales rose 11% to £8.1m.
In Africa, Asia and Australasia, sales increased by 7% to £3.73m and in the Americas, sales more than doubled on last year to £2.57m (2013: ££1.22m).
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