Sonova confirms targets as first half results beat forecasts

ZURICH Tue Nov 13, 2012 1:15am EST

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ZURICH Nov 13 (Reuters) - Swiss hearing aid maker Sonova said it is on track to meet its targets for the 2012/13 financial year on Tuesday after a stronger dollar and a good performance from its cochlear implants business helped first-half sales beat expectations.

Sales in the six months to end September rose 14.3 percent to 872 million Swiss francs ($920 million) beating the average analyst forecast of 853 million francs in a Reuters poll.

Net profit was 149 million Swiss francs ($157 million) also surpassing forecasts.

Sonova, which competes with Denmark's William Demant and Germany's Siemens said it still expected full-year sales growth of 7-9 percent in local currencies while operating margin should grow in the 15-20 percent range. ($1 = 0.9482 Swiss francs) (Reporting by Caroline Copley)

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