LINN Products, the pioneering Scottish hi-fi company, has lifted turnover amid the “phenomenal” response to products such as its flagship digital streamer and famed Sondek LP12 turntable, against a backdrop of supply chain upheaval.
The Eaglesham-based business, which was established by Ivor Tiefenbrun in Glasgow in 1973, reported sales of £22.7 million in the year ended September 30, up from £20.7m the previous time. But pre-tax profits dipped to £2.4m from £3.1m as costs and administrative expenses increased, accounts newly filed at Companies House show.
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Chief executive Gilad Tiefenbrun said: “Despite the enormous challenges we’ve faced over the past few years, the business has gone from strength to strength. We’ve worked diligently to simplify our supply chain, bring even more processes in-house, and invest in new capabilities across the business.”
Linn shot to fame with the development of the Sondek turntable in the 1970s and continues to invest regularly in research and development. It noted that its next generation Klimax DSM had won seven product of the year awards since it launched in March 2021, while its Selekt LP12 was named turntable of the year by industry publication Hi-Fi+.
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The company invested £1.2m in R&D and £1m in factory machinery and processes in the period covered by the accounts.
Gilad Tiefenbrun said: “During an extended time period, spanning a few years of uncertainty, in which many of our competitors have been pulling back – we staunchly decided to do the opposite. We maintained high investment in R&D and in the factory proper, and launched several new products and upgrades available to existing owners; pressing home our position as the world leader in high-quality music reproduction for the home.”
He added: “Between input cost pressures, rising energy prices, and the most challenging supply chain environment we’ve ever seen – it’s been an astonishing team effort to deliver a superb result for the year. The response to our new product offerings across several categories and price-points has been phenomenal.”
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