As big TV brands like Sony, Panasonic and Samsung witness massive profit falls European TV Company Loewe has seen a 35 per cent jump in pre-tax profits to $A52 Million on revenues of $A740 Million.
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A big brand in Australia during the CRT TV era, Loewe is now looking for International growth after doing extremely well selling their TV’s in Europe.
“Our consistent focus on the European premium market for consumer electronics has paid off,” said chief executive Frieder C Lohrer as he revealed the company had generated the highest earnings in its history.
Mr Lohrer noted that the first months of 2009 showed the market weakening but he said the company still expected a slight increase in sales with most growth expected in the second half of the year.
