William Demant to launch share buy-back programme

COPENHAGEN Thu Aug 14, 2014 2:37am EDT

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COPENHAGEN Aug 14 (Reuters) - The world's second-largest hearing aid maker, Denmark's William Demant Holding, reported a fall in first-half operating profit, capped by currency headwinds, but kept its full-year outlook for earnings per share unchanged.

First half operating profit fell 4 percent to 834 million Danish crowns($149 million) compared to the same period a year ago, below an average 922 million crowns estimate in a Reuters poll..

The group reiterated its previous guidance for 2014 of a rise in earnings per share of between 5 and 10 percent.

It said a share buy-back programme of between 2.5 and 3.0 billion crowns is to be executed from 2014 to 2016. (1 US dollar = 5.5820 Danish crown) (Reporting by Teis Jensen; editing by Sabina Zawadzki)