High-end hi-fi manufacturer Linn Products has returned to profitability despite the coronavirus crisis.
Based in Eaglesham, East Renfrewshire, the company reported an operating profit of £482,000 for the 15 months to September.
Turnover was £18.6m, with £3.4m invested in research and development.
Linn did record a pre-tax loss of £636,000 in the year to June 2019, down from profit of £872,000 in the previous 12 months, mainly due to investment in product development. Turnover also fell by 3.8 per cent to £15.7m last year.
The family business, established in 1973, highlighted its investment in its Series 3 'all-in-one' wireless speaker, along with Karousel, its latest turntable upgrade.
“The success of these two innovations in particular has helped the group return to profitability, albeit in an extended 15-month financial year marred by the impact of Covid-19.”
Managing director Gilad Tiefenbrun stated: "The directors believe that the current activity levels in consumer electronics industry are sustainable.
"We have continued to invest in research and development, both to deliver new products, this year and beyond.
"The business continues to be well placed to face the challenges of the markets in which it operates, and is confident of maintaining and growing its market share."
