Cochlear profit lifts 19% in 1H17

Company News

by David Chau

Cochlear Ltd (ASX:COH) has posted its 1H17 results this morning, and they’re quite positive.

The hearing implant maker reported that its sales revenue rose up 4% to $604.4 million, and its net profit shot up 19% to $111.4 million.

Cochlear’s results were driven by strong consistent 10% growth in its units delivered across all regions (developed and emerging markets).

The company’s basic EPS rose 18% to $1.94 in this first half.  Cochlear declared a fully franked interim dividend of $1.30 per share, up 18% over last year.

The company’s net profit outlook for the full year is between $210 million and $225 million (which is a 10% – 20% increase over the previous year).

This morning, Cochlear shares are trading 0.8% higher at $137.37.

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