April 29, 2014 / 1:25 PM / 3 years ago

Sorin Q1 net profit rises 18.3 pct boosted by cardiac surgery unit

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

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