Linn Products, the Scottish-based hi-fi manufacturer, has announced 'strong financial results' for the year ending 30 June 2010.
The company made headlines this time last year when it announced it would no longer be making CD players, instead choosing to focus on its DS range of streaming products.
The company says its results, with pre-tax profits of £1.6m as the highlight, show that the decision to focus on 'making high quality digital streaming a reality' was the right one.
The Linn DS (digital streaming) players now make up 37% of the company's hi-fi sales.
Alongside a 5 per cent increase in turnover, up to just over £17m, the record label, Linn Records, has continued to be profitable and also won the Record Label of the Year at the Gramophone Awards.
More after the break
Managing director Gilad Tiefenbrun said of the results: ““The market has understood the seismic shift that digital represents and recognised that Linn has been a prime mover in delivering the technology that takes them into a new era of home entertainment.
Our strategy of introducing the highest quality digital streaming combined with the highest quality music downloads from our record label has paid off, and gives us a fantastic platform to position our brand and business for the future.”