Print Edition - 2018-05-03  |  Money Digest

GN Store Nord shares hit 18-year high

DENMARK

May 3, 2018-

Shares in GN Store Nord rose five percent on Wednesday to their highest in 18 years after the Danish hearing aid and headset maker beat first-quarter earnings forecasts and announced a plan to buy back shares. The company made a core profit (EBITA) of 354 million Danish crowns ($57 million), above the 338 million crowns expected by analysts, driven by its headset unit. It also announced plans to buy back 1 billion crowns ($161 million) of shares. At 0835 GMT, GN Store Nord’s stock was up 5.3 percent at 232.90 crowns, after touching 234.2 crowns, their highest since 2000. GN Audio, the company’s headset division, saw underlying revenue growth of 17 percent in the quarter, well above expectations, and the division’s full-year guidance was lifted to “around 9 percent from more than 7 percent”. (REUTERS)

Published: 03-05-2018 08:15

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