© Reuters.
(Corrects paragraph 2 to specify retailers have been purchased from a franchisee)
(Reuters) -Italian listening to support maker Amplifon expects high-single-digit development in 2024 revenues at fixed trade charges, as its market expands in the USA and stabilises in Europe, it mentioned on Thursday.
The group in January purchased 50 retailers of its Miracle-Ear enterprise from a franchisee within the U.S., aiming to strengthen its presence within the Americas to offset slowing demand in Europe.
Shares within the Milan-based group rose greater than 5% following the group’s outcomes on Thursday.
The world’s largest retailer of listening to aids expects profitability to develop this 12 months, with a recurring core revenue (EBITDA) margin above 24.6%.
It posted recurring EBITDA of 155.8 million euros ($169.7 million) within the final quarter, unchanged from a 12 months earlier, and revenues up by 6% to 615 million euros.
It pledged to return a dividend of 0.29 euros per share, additionally in step with final 12 months.
Amplifon additionally mentioned it ask shareholders to authorise a brand new buyback programme for as much as 10% of its share capital after the present one expires in October. ($1 = 0.9179 euros)
