Straumann Holding AG, a developer of dental replacements and implants, said its fourth-quarter 2017 revenue grew 18% on an organic basis, while full-year 2017 net profit rose 20% on a reported basis.

The Swiss company's fourth-quarter revenue came in at CHF310.8 million, up from CHF242.4 million in the year-ago period.

The company's 2017 net profit reached CHF275.6 million, up from CHF229.6 million in 2016. Basic EPS for the year came in at CHF17.61, up from CHF14.68 in the year-ago period.

Revenue for 2017 was CHF1.11 billion, up from CHF917.5 million in 2016.

Income tax expenses for the year came in at CHF48 million, up from CHF7 million in 2016, affected by a CHF260 million sale of treasury shares in September 2017 resulting in a one-time tax expense of CHF8 million. The company expects a tax rate of about 15% going forward.

Meanwhile, the company expects the global dental implant market to grow by about 4%, and hopes to expand its market share by achieving organic growth in the low double-digit percentage range. Straumann also expects its EBIT margin to remain stable for the year.

Further, the company's board proposed a further dividend increase to CHF4.75 per share from CHF4.25 per share in 2016. The dividend is payable on April 12.