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Swiss hearing implement manufacturer Sonova saw record income last year, booking 1.6 billion francs.
In local currencies this amounted to a near 12 percent increase, but factoring in the strong Franc it was only up 0.2 percent.
Negative currency effects cost 184 million francs.
Profits for the year were up 6.6 percent, to 246 million francs.
For this year Sonova expects revenue growth of 7 to 9 percent, about half what it would be without negative currency effects.