UPDATE 1-Sonova H1 meets poll, confirms year sales goal

* H1 net profit 170.5 mln Swiss francs, vs forecast 171 mln

* Confirms full-year sales growth target

* Lowers full-year EBITA margin goal

(Adds details, background)

Zurich, Nov 16 (BestGrowthStock) – Swiss hearing aid maker Sonova
(SOON.VX: ) expects demand for its latest products to drive sales
growth in its second half, the group said on Tuesday after
first-half results showed it had won more market share.

April-September net profit rose 4 percent to 170.5 million
Swiss francs ($173 million), in line with the average forecast
in a Reuters poll. [ID:nLDE6431S2]

Sonova said it expected full-year organic sales growth of
8-10 percent in local currencies, after 8.2 percent growth in
the first half when it outperformed market growth in units,
which was estimated at 4-5 percent.

“A number of new, innovative products were launched at the
EUHA hearing aid congress in October, which will contribute to
sales growth in the second half of 2010/11,” Sonova said.

The group lowered its EBITA (earnings before interest, tax
and amortisation) margin target to around 26 percent after
previously aiming for 26-27 percent.

Sonova leads German group Siemens (SIEGn.DE: ) and Danish
company William Demant (WDH.CO: ) in the hearing aid market, with
around a 25 percent share.

The hearing aid market proved to be more resilient than
other parts of the medtech sector during the financial crisis as
patients could not put off getting new hearing aids, unlike many
other non-urgent treatments, such as dental implants.
(Reporting by Katie Reid; Editing by Dan Lalor)

UPDATE 1-Sonova H1 meets poll, confirms year sales goal