GN lowers guidance in wake of fraud case
GN Resound-parent GN Store Nord has lowered its guidance for full-year revenue growth. The hearing device unit has been hit by a case of internal accounting fraud, but otherwise delivers a solid performance in the second quarter.
BY STEFAN SINGH KAILAY
GN Store Nord’s second quarter is affected by a bad performance in its GN Netcom unit, while the group’s hearing device division – GN Resound – performs well, although it is marred by one very unfortunate incident during the three month period. That’s the headline from Thursday’s Q2 report from the Denmark-based group.
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