Published on June 22nd, 2017 | by The GC Team0
Pre-tax profit up 15.2% at Sennheiser
The Sennheiser Group has reported a decline in turnover but an increase in profit for its 2016 fiscal year.
Revenue fell 3.8% to €658.4 million, which the company said was due to placing greater focus on its core business.
Group profit before taxes rose by 15.2% to €34.9 million, mainly due to a reduction in material, personnel and other operating expenses.
The audio specialist invested €54.5 million in R&D – 16% more than in 2015.
Co-CEO Daniel Sennheiser said “…in 2016 we did a lot of groundwork to ensure our future success by delivering even greater innovation and value to our customers.
“As a family-owned company, we focus on the long term and pursue a clear goal: shaping the future of audio.”