UPDATE 2-Straumann shines with H1 profit rise, outlook

(Adds CEO, analysts' comments, share price)

By Sven Egenter

ZURICH, Aug 7 (Reuters) - Swiss dental implant maker Straumann (STMN.S) posted a surprise rise in first-half profit as sales grew strongly across all regions and gave a confident outlook for the year, boosting its shares.

The world's second largest maker of dental implants said on Thursday revenue should grow at a low to mid twenties percentage in local currencies in 2008, confirming its previous guidance.

"We don't see any fundamental slowdown," Straumann chief executive Gilbert Achermann told Reuters.

Even in the United States -- where the weakness of main rival Nobel Biocare has raised concerns about the U.S. business -- the market was growing by 13 to 15 percent, in line with global demand for dental implants, Achermann said.

The group's profit rose 6 percent to 100.5 million Swiss francs ($95.62 million) in the first half, beating the average forecast of a decline to 92 million francs in a Reuters poll.

Sales rose 17 percent to 413 million francs, up 22 percent when taking out currency effects, also beating expectations.

Demand picked up in all regions, even in the United States, where Straumann has long been lagging the world's number one Nobel, though the weak dollar weighed on sales, the group said.

Straumann shares rose 8 percent by 0739 GMT to 283.00 francs after having gained some 5 percent on Wednesday on news that the U.S. lifted the ban on its Biora products.

The results eased concerns about a substantial slowdown in the U.S., analysts at bank Wegelin said. "Straumann seems in an excellent position to benefit from the growing market."

CEO Achermann said the group had no intention of entering the low price segment. "We have enough growth in our traditional business to meet our and the market's expectations," he said.

Increased competition from companies offering cheaper implants has triggered speculation Straumann and Nobel Biocare might have to enter this segment, where margins are lower, too.

Straumann shares have lost around 16 percent this year, trading at 17 times forecast 2009 earnings, a 22 percent premium over Nobel, according to Reuters data.

For the company's statement click on www.straumann.com/com_index/ci_media_relations/ci_media_releases/ci_media_releases_2008/ci_pr_h1_2008.htm

(Additional reporting by Oliver Hirt, Editing by Paul Bolding)