COPENHAGEN
Shares in Bang & Olufsen hit their highest in 10 years after the luxury TV and stereo maker beat market expectations with strong second-quarter results.
B&O’s shares surged as much as 18 per cent. At 1156 GMT, shares were up 10.6 per cent at 178 crowns each. Sales rose by 15 per cent in the quarter from a year earlier to around 1 billion Danish crowns ($160.37 million), helped by a 30 per cent increase in sales at B&O Play, the company’s more affordable range of headphones and smaller speakers. The company also raised its forecast for its full-year operating margin.