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Phonak earnings leap on acquisitions

Phonak's production site in Stäfa Keystone Archive

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.

This content was published on June 14, 2001 - 09:43

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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