Hi-fi manufacturer Linn has reported a net profit of £3.1m, off the back of the launch of its flagship digital streamer, Klimax DSM, coupled with resilient demand across key markets and product ranges.
Financial results for the year ending 30 September 2021 also show sales increasing to £20.7m.
The company designs and manufactures its range of systems at a factory on the south side of Glasgow.
Chief executive Gilad Tiefenbrun said: “Despite the enormous challenges we’ve faced over the past year, the business has gone from strength to strength.
“We’ve taken the opportunity to simplify our supply chain, bring more processes in house, and invest in new capabilities.”
The Klimax DSM product was launched in March and was down to increased investment in research and development - up to £3.4m - while a further £1m was invested in factory facilities during the period.
“At a time when many of our competitors were pulling back, we decided to do the opposite – we upped our investment in the factory and in R&D and launched our new flagship product,” Tiefenbrun continued.
“In an incredibly challenging year - between Covid, input cost pressures, and the most challenging supply chain environment we’ve ever seen - it’s been a massive team effort to deliver a superb result.”
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