September 26, 2019 / 6:35 AM / 21 days ago

Hearing aid maker Demant slashes outlook after cybercrime attack

COPENHAGEN, Sept 26 (Reuters) - Danish hearing aid maker Demant cut its operating profit outlook for this year and temporarily suspended its share buyback after its IT infrastructure was hit by cybercrime in September, the company said on Thursday.

Demant now expects earnings before interest and tax (EBIT) of 2-2.3 billion Danish Crowns ($293-$338 million) from a previous forecast of 2.65-2.85 billion crowns mainly due to lost sales and a “weakening growth momentum”. ($1 = 6.8158 Danish crowns) (Reporting by Andreas Mortensen Editing by Shri Navaratnam)

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