Shares in Bang & Olufsen rise following 'satisfactory' Q1 results

Bang & Olufsen A/S

06/10/2021 08:20

** Shares in Danish luxury TV and stereo maker Bang &
Olufsen  BO.CO  rise 5%, pares gains after rising as much as
7.8%, after Q1 results 
    ** Company reported Q1 EBIT of DKK 7 million ($1.09 million)
and gross profit of DKK 299 mln, with revenue growth 44% YOY in
local currencies and confirmed its FY 2021/22 outlook
 urn:newsml:reuters.com:*:nASN001QD8
    ** Nordnet analyst Per Hansen considers the Q1 results 'very
reasonable' and 'satisfactory', highlights that the co for the
first time since 2007/2008 delivered a profit in Q1
    ** The revenue growth is going in the absolutely right
direction, however earnings are still far from being
satisfactory, Per Hansen says
     ** Broker points out that the FY outlook remains unchanged
so far, but it is likely that an upgrade will appear later
during the year 
    
    
    


($1 = 6.4255 Danish crowns)

 (Reporting by Aleksandra Jasiurska)
 ((Aleksandra.jasiurska@thomsonreuters.com))