By Scott Wright

LINN Products, the Glasgow-based hi-fi company, has cited the success of its next-generation digital streamer and “resilient” demand across key markets and product ranges as it reported a major hike in profits.

New accounts show Linn, which rose to fame with the development of its pioneering Sondek turntable in the 1970s, made a profit before tax of £3.1 million in the year ended September 30. This compared with a profit of £482,000 for the 15 months to September 30, 2020, a period covering the early months of the pandemic.

Profits surged as turnover increased to £20.7m from £18.6m, the accounts show.

Linn, which was established by Ivor Tiefenbrun in 1973, designs and manufactures hi-fi systems at its factory on the south side of Glasgow. The company said the launch of its next-generation Klimax DSM digital streamer in March last year was quickly met with glowing reviews and awards from the global hi-fi press.

Chief executive Gilad Tiefenbrun said: “Despite the enormous challenges we’ve faced over the past year, the business has gone from strength to strength. We’ve taken the opportunity to simplify our supply chain, bring more processes in house, and invest in new capabilities. At a time when many of our competitors were pulling back, we decided to do the opposite – we upped our investment in the factory and in R&D, and launched our new flagship product.”

The firm spent £3.4m on R&D, up from £2.37m previously, and invested £1m in its factory.

Mr Tiefenbrun said: “In an incredibly challenging year – between Covid, input cost pressures, and the most challenging supply chain environment we’ve ever seen – it’s been a massive team effort to deliver a superb result.”

“The response to our new flagship digital streamer around the world has been phenomenal.”