Cochlear bumper profit boosted by growth in developed markets

Company News

by Anna Napoli

Cochlear (ASX:COH) has reported its net profit after tax (NPAT) rose about 10 per cent on FY17 to 245.8M for the 2018 financial year.

In more good news for the hearing implant company, its sales revenue strengthened over the 2018 financial year, and lifted almost 9 per cent on FY17 to $1.35 billion.

Its earnings before interest and tax (EBIT) increased around 10 per cent on the prior year, to $348.4 million.

The company declared a final fully franked dividend of $1.60 an increase of 14 per cent.

The company says developed markets continued to perform well with unit growth increasing by 9 per cent .

Shares in Cochlear (ASX:COH) are trading 7.04 per cent lower to $184.79.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.