ZURICH, May 16 (Reuters) - Sonova’s full-year profit after taxes rose 3 percent as increased costs for sales, marketing and other activities linked to the Swiss hearing aid maker’s purchase of the AudioNova retail chain weighed on earnings growth.
Income after taxes for the 2016/17 year rose to 356.2 million Swiss francs ($358 million), the company said on Tuesday, up from 345.8 million francs in the previous year. Sales rose 15.3 percent to 2.4 billion francs, it said.
For the current year, Sonova expects consolidated sales to grow by 10 percent to 12 percent and normalised earnings before interest and taxes to rise by 10 percent to 14 percent, both measured in local currencies. ($1 = 0.9951 Swiss francs) (Reporting by John Miller; Editing by Michael Shields)