Demand boosts sales at Phonak
Robust demand for a new line of digital hearing aids boosted group sales at Phonak in the year to March by 46 per cent to SFr460 million ($267 million).
The results came in better than the canton-Zurich based company had predicted, although analysts at Bank Sarasin had forecast sales of SFr465 million.
Phonak said sales in the second half of its business year benefited from new acquisitions coming in at SFr251 million, 21 per cent higher than in the first half of its financial year.
Phonak last year acquired Unitron of Canada, Spain’s Indo Leam and Denmark’s Auris. Earlier this year Phonak took over the Austrian hearing aid company, Hansatron.
The company expects operating and net profit over the next 12 months to show a “markedly disproportionate increase”. Details will be released at the company’s annual news conference on June 14.
For the current financial year Phonak said it expects a sales increase of over 30 per cent to more than SFr600 million, and continued double-digit growth in consolidated profits.
swissinfo with agencies
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