Luxury TV and stereo maker B&O reports 14% fall in third-quarter revenue

Reuters

Published Apr 02, 2020 08:20

COPENHAGEN (Reuters) - Struggling Danish TV and stereo maker Bang & Olufsen (CO:BO) reported a third quarter revenue fall of 14% to 613 million Danish crowns (72.66 million pounds) on Thursday following five profit warnings in just over a year.

Bang & Olufsen, whose most exclusive speakers cost up to $80,000, reported a loss in earnings before tax and interest (EBIT) of 1 million crowns versus a profit of 30 million a year earlier.