BBC News: Luxury electronics maker, Bang & Olufsen (B&O), has issued a profit warning for 2007/8 as a slump in sales threatens its balance sheet.
The company said the uncertain global economy was making it difficult to anticipate “market developments”.
The top-of-the-range television and stereo maker has been feeling the effects of the economic downturn as consumers reign in non-essential spending in a bid to counterbalance rocketing fuel and food prices.
B&O issued a previous profit warning in March and sacked former boss Torben Sorensen in January after it saw a 37% decline in half-year profits.
B&O’s key markets are Denmark, the UK, Germany, and the US.
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