Cochlear posts rise in profits, increases interim dividend

Company News

by Anna Napoli

Cochlear (ASX:COH) has announced its half year results for financial year 2019 with reported net profit rising 16 per cent to $128.6m, compared to the same time last year.

Reported sales revenue increased 11 per cent to $711.9m.

Earnings before interest & tax (EBIT) rose 10 per cent $177 million.

 The company declared an Interim dividend per share $1.55, up 11 per cent.

The company says it expects to continue to deliver growth in revenue and earnings in the coming years, underpinned by the significant investments made in product development and market growth initiatives,

Cochlear is maintaining its FY19 net profit guidance of $265-275 million, an 8-12 per cent increase on FY18.

Shares in Cochlear (ASX:COH) are trading 7.39 per cent lower to $180.05.


 

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.