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Surprise loss for Bang & Olufsen

Luxury stereo and television maker Bang & Olufsen yesterday posted a surprise pre-tax loss for September-November and cut its full-year guidance, as sales tumbled and new product launches came too late in the quarter. The Danish upmarket electronics maker made a second-quarter pre-tax loss of 47.6m crowns ($9m) compared with a year-earlier 149m loss and an average analysts’ consensus forecast of analysts for a profit of 6m. Second-quarter sales at the firm unexpectedly fell 14 per cent to 669m crowns against a forecast rise to 785m.