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Össur Q2 net profit up 106 pct, lifts 2014 guidance
July 24, 2014 / 2:32 PM / in 3 years

Össur Q2 net profit up 106 pct, lifts 2014 guidance

COPENHAGEN, July 24 (Reuters) - Icelandic prosthetics maker Össur posted on Thursday core profit of $29 million in its second quarter report compared to $15.3 million in same quarter last year and upgraded its full-year outlook.

Net profit rose 106 percent to $17 million, due to sales growth in the company’s prosthetic division, Össur said.

“Prosthetics sales growth in the quarter is excellent, primarily driven by bionic products, yet again confirming the success of the bionic platform we have built,” Össur CEO Jon Sigurdsson said in a statement.

Össur told Reuters in June it aimed to sell more of its advanced high-end products, such as bionic computer-controlled prosthetics and hoped to increase market growth by more than 5 percent annually compared to 3-5 percent now.

The company expects a full-year EBITDA margin in the range of 19-20 percent of sales compared to its previous guidance of 17-19 percent. (Reporting by Annabella Pultz Nielsen; editing by Sabina Zawadzki)

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