Cochlear Limited
(ASX:COH) chairman Rick Holliday-Smith says the company expects fiscal 2014 net profit after tax to be in line with the previous year, with a heavy bias to the second half.
Addressing shareholders at the group's annual general meeting, Mr Holliday-Smith said the group faces some short-term pressure on its operating margin as it maintains its research and development spending.
He says the interim dividend at $1.27 per share and the final dividend will stay at the same level if the outlook doesn’t change.
Mr Holiday-Smith says Cochlear remains confident about its long-term growth prospects.
Cochlear posted a full-year net profit of $132.6 million in fiscal 2013.
