William Demant FY pretax profit up 13 pct, slightly below expectations UPDATE |
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Thu, 08 Mar 2007 13:38
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(Updating with quotes, details on new product launch in Q2)COPENHAGEN (AFX) - Danish hearing aid manufacturer William Demant posted a FY pretax profit of 1.209 bln dkr, up 13 pct from 2005 as sales increased in all business activities.Market expectations were for a 2006 pretax profit of 1.216 bln dkr, according to a survey of analysts from RB Borsen.Sales increased 12 pct to 5.085 bln dkr, while operating profit came in at 1.271 bln dkr, up 15 pct from 2005.'The response from customers and end-users to Oticon Delta has been overwhelmingly positive,' William Demant said, adding that, 'The group's other hearing aid activities also benefited from the strengthened market position in 2006.'William Demant said it expects 2007 sales to reach 5.450-5.600 bln dkr.Operating profit in 2007 is seen at 1.425-1.500 bln dkr, it added.Corporate growth in 2007 is expected to be driven mainly by the Oticon Delta hearing aid and the launch in the second quarter of a new high-end hearing aid series, supported by a wireless technology called RISE, the company said, adding that the Oticon Amigo product concept and a range of planned product introductions from the Bernafon business segment will also contribute positively.'The first instrument based on RISE will be a new high-end instrument scheduled for launch, as previously indicated, during the second quarter of 2007. RISE and the new high-end instrument will indeed represent a paradigm shift in the hearing aid industry,' William Demant said.The company said it expects to buy back shares for around 1 bln dkr during 2007.As in previous years, William Demant proposes that no dividend be paid out for 2006.gustav.sandstrom@thomson.comgs/gs/rfwCOPYRIGHT
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William Demant FY pretax profit up 13 pct, slightly below expectations 