Sorin Q1 net profit rises 18.3 pct boosted by cardiac surgery unit
MILAN, April 29
MILAN, April 29 (Reuters) - Italian medical technology group Sorin said on Tuesday its adjusted net profit in the first quarter grew 18.3 percent to 10.8 million euros ($15 million) boosted by its cardiac surgery unit business.
In a statement Sorin, whose main factory in the north of Italy was seriously damaged by a big earthquake in 2012, said its sales in the period rose 1.8 percent on the year to 176.3 million euros, at comparable rates and on a like-for-like basis.
The company said it expected sales to rise 3-5 percent at constant exchange rates in the second quarter compared to the same period a year ago.
It confirmed its targets for the full year, which include an adjusted net profit of 55-60 million euros.
($1 = 0.7223 Euros) (Reporting by Stephen Jewkes; editing by Francesca Landini)