Phonak earnings leap on acquisitions
The hearing aid group, Phonak, says its operating income nearly doubled in the first quarter and that it expects a further 15 to 20 per cent increase in the current financial year because of acquisitions.
Earnings before interest and tax rose to SFr95.3 million ($53.3 million) on sales of SFr460 million. Net profit was up 93 per cent to SFr65.7 million.
The company, which launched its Claro digital product line in the past financial year, is recommending a share dividend of SFr15 per share. It is also planning a 100-for-one share split.
Phonak said Claro had generated 30 per cent of sales.
Shares in Phonak, based in Stäfa on Lake Zurich, outperformed the SPI all-share index by 55 per cent last year.
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