Nuance earnings up 36% in 2007

Nicole Mezzasalma

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The company has attributed the result to solid sales growth of 9.4% to SFr1.76bn ($1.59bn)

The Nuance Group has announced an increase of 36% in its earnings before interest and tax (EBIT) for 2007 to SFr43.6m ($39.5m) compared with the previous corresponding period. The company attributed the good result to sales growth of 9.4% to SFr1.76bn ($1.59bn), restructuring of the business and improvements in operational efficiency.

The increase in sales was a result of strong passenger traffic growth and improved retail performance in all the group’s operations, according to the company. In Asia, Hong Kong and Singapore performed well, while Nuance’s Australian operations registered improved sales despite still being affected by the ban on liquids, aerosols and gels (LAGs). All countries in Europe except Sweden, which was hit hard by the LAGs issue, showed improvements in sales and profitability. The North American business recorded an increase in like-for-like sales of 17.2% and profitability grew following the company’s exit from Vancouver International airport and a strong performance in the US.

The Nuance Group president and CEO Roberto Graziani said: “Following the hard work of the past three years, the improvement in sales and profitability is welcome. But we have not finished. We still have to work to improve our performance, especially in Australia and Sweden. We are continuing to seek growth in sales and profitability in all of our operations. Overall I am very pleased with our progress in returning Nuance to profitability and we will continue to build on this over the coming years.”