November 20, 2018 / 6:27 AM / in 24 days

Hearing aid maker Sonova net income rises 6.5 pct, confirms 2018/19 targets

ZURICH, Nov 20 (Reuters) - Hearing aid maker Sonova said income after taxes rose 6.5 percent in the first half of 2018, when sales growth in Europe helped offset shrinking revenue in the United States where the Swiss company revamped its audiological care business.

Income rose 193.4 million Swiss francs ($194.74 million), the Staefa-based company said in a statement, from 181.6 million francs in the 2017 period. Sales rose to 1.3 billion francs, up 4 percent from 1.25 billion.

Sonova maintained 2018/19 targets for organic sales growth of 3-5 percent or growth of 2-4 percent after net divestments, as well as for earnings before interest, taxes, depreciation and amortisation to rise 6-9 percent, in local currencies. ($1 = 0.9931 Swiss francs) (Reporting by John Miller, editing by Riham Alkousaa)

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