GN Store Nord Q2 profit spikes 60 pct, reiterates guidance

COPENHAGEN Wed Aug 14, 2013 2:17am EDT

COPENHAGEN Aug 14 (Reuters) - Danish hearing aids and headsets maker GN Store Nord reported nearly 60 percent rise in second-quarter underlying operating profit, in line with forecasts, helped by market share gains in its hearing aid business and a cost control programme.

Underlying earnings before interest, tax and amortisation (EBITA) rose to 291 million Danish crowns ($51.64 million), roughly matching an average forecast of 295 million in a Reuters poll.

It reiterated its most recent full-year guidance given last month for organic sales seen up more than 11 percent and group core earnings exceeding 1.23 billion crowns.

It said it would launch a new share buy-back programme of 300 million Danish crowns. ($1 = 5.6352 Danish crowns) (Reporting by Copenhagen Newsroom; editing by James Jukwey)

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