COPENHAGEN (Reuters) – Shares in Bang & Olufsen BO.CO rose as much as 13% on Thursday after the audio and visual equipment maker said its revamped strategy had helped it narrow losses and post its first revenue growth in a year.
The company said in July that it expected to return to growth in the coming financial year after a move to boost its online presence and digital sales with a focus on key European and Asian markets.
Sales in B&O, known for its exclusive TVs and speakers that sell for up to $80,000, rose 10.3% to 462 million Danish crowns ($72.9 million) in the three months to August 31.
EBIT losses narrowed to 41 million crowns from 129 million crowns a year earlier.
Its shares were up 8.2% at