Danish hearing aid manufacturers GN and Demant were depressed on the stock exchange on Tuesday afternoon after the large Italian retailer Amplifon presented disappointing figures for the second quarter.
Revenue for the Italian chain landed disappointingly at EUR 604.1m, where analysts had expected EUR 611m, according to Bloomberg.
The European market, Amplifon’s largest, came in worse than expected, while the US market was slightly better than analysts’ estimates.
For the full year, the company expects high single-digit revenue growth.
However, investors are not impressed and send the share down 4.8%.
Danish companies are also hit, with both GN and Demant going from plus to minus after Amplifon’s report.
GN fell 0.5% compared to a plus of 0.7% shortly before the report. Demant fell 0.2% and was up 1.3% before the figures from Amplifon.
(English edit Christian Radich Hoffman)
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