Linn Products, the venerable Scottish hi-fi brand at the cutting edge of digital audio, has booked a rise in annual profits and vowed to continue investing in research and development.
Latest accounts for the firm, which is based near Glasgow and manufactures nearly everything in house, show that profits increased to £1.39 million, up from some £865,000. That was despite a 6.3 per cent decrease in turnover to £16.93m.
The company, which rose to fame for its Sondek LP12 turntable in the 1970s but has also become a global leader in music streaming technology, pumped more than £2m into research and development with capital expenditure of £1.13m into new factory machinery.
New product launches in the past year have focused on the firm's latest digital-to-analogue conversion technology, its Katalyst DAC Architecture. Initially launched in the flagship Klimax DS and Klimax DSM network music players, the technology is now available in several products and is offered both as new products and as upgrades for existing customers.
During the year, Linn purchased a new metalwork machine that allows it to bring manufacturing of the enclosures for the Klimax product range in-house.
Managing director Gilad Tiefenbrun said: "After another year in a challenging economy we are delighted to have met our strategic goals.
"Highlights include the launch of Katalyst, our new digital-to-analogue conversion technology, which has pushed the boundaries of audio reproduction by making our best performing products even better, and the recent investment in our production capabilities which will ensure we remain at the forefront of audio innovation for years to come."
The accounts for the year to the end of June also show that the headcount remained broadly unchanged at just over 170 people.