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William Demant H1 profit grows 12% YOY

William Demant Holding A/S said earnings for the six months ended June 30 grew 12% year over year.

The Denmark-based hearing healthcare company said profit for the period reached 894 million Danish kroner, or 3.55 kroner per share, up from 798 million kroner, or 3.10 kroner per share, in 2017.

Revenue increased 4% on an annual basis to about 6.78 billion kroner, from about 6.51 billion kroner in the year-ago period.

William Demant attributed the growth to all its business activities, including hearing devices, hearing implants and diagnostic instruments.

For full year 2018, William Demant expects EBIT of between 2.65 billion kroner and 2.85 billion kroner, raising the lower end of the outlook from the previous guidance of 2.55 billion kroner.

As of Aug. 14, US$1 was equivalent to 6.56 Danish kroner.