* Fourth-quarter core profit up 30 pct to 390 mln DKK
* Forecast 2014 core profit of more than 1.33 bln DKK
* Shares up by 2 pct
(Adds CFO, analyst comment, background)
COPENHAGEN, Feb 14 Danish hearing aid and
headset maker GN Store Nord increased core earnings by
almost 30 percent in the fourth quarter, aided by improved
margins in its hearing aid business.
The company, the world's number four hearing aid
manufacturer, cut costs to help to boost its core profit margin
to 21 percent in the fourth quarter of 2013.
For the full year, it reported a core profit margin of 19
percent, achieving its target set in 2010 to more than double
the margin from around 9 percent.
It now aims to increase sales through new products like its
hearing aid Resound Linx which allows users to stream voice and
music from their iPhones, developed in collaboration with Apple
"Our launch of the 'made-for iPhone' device is unique, and
it can provide us with some unique user benefits that will drive
good growth in 2014," chief financial officer Anders Boyer said.
GN forecast 2014 organic revenue growth of more than 8
percent and expects core profit to grow to more than 1.33
billion crowns from 1.28 billion in 2013.
Quarterly earnings before interest, taxation and
amortisation rose to 390 million Danish crowns ($71.42 million)
from 301 million crowns a year earlier, below an average
estimate of 404 million in a Reuters poll..
"The weakening of many foreign currencies is part of the
explanation why we miss the analysts' forecast, but generally
seen we are very satisfied," Boyer told Reuters.
The company also said it would begin a 500 million crowns
share buyback. This was smaller than expected by Alm Brand
Markets' analyst Michael Friis Jorgensen.
The board is to propose a dividend of 0.84 crowns per share,
versus a forecast of 1.01 crowns in a Reuters poll.
GN shares traded up 2.1 percent by 0823 GMT against a 0.47
percent rise in the Copenhagen stock exchange's benchmark index
. The shares rose to their highest level since 2001
earlier on Friday.
($1 = 5.4603 Danish crowns).
(Reporting by Stine Jacobsen and Teis Jensen. Editing by Jane