Italy's Amplifon posts flat Q2 net profit on weak EMEA demand
July 30 (Reuters) -Italian hearing aid company Amplifon AMPF.MI posted on Tuesday second-quarter net profit that was little changed from the year ago period as lacklustre sales in Europe, Middle East and Africa (EMEA) offset strong demand for its products in the Americas.
Amplifon made net profit of 54.6 million euros ($59 million)in the three months ended in June, versus 54.4 million euros reported for the same quarter in 2023.
Its shares fell as much as 7.2% after the results and were temporarily suspended from trading. They were down 2.7% at 1149 GMT.
Revenue from the Americas was 129.6 million euros, a 15.9% increase from the second quarter of 2023, thanks to solid organic growth of the business and the positive contribution of acquisitions, the company said in a note.
Amplifon generated revenue of 381.4 million euros in the EMEA region, 1.5% up from the year ago period and held back by a weak market, particularly in France, the company said in a note.
($1 = 0.9242 euros)
Reporting by Luca Fratangelo; Editing by Emelia Sithole-Matarise
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