Cochlear profit up despite implant unit sales slightly down

Company News

by Rachael Jones

Cochlear (ASX:COH) delivered net profit of $276.7 million, an increase of 13 per cent on FY18, which includes $10.8 million in non-cash net gains from the revaluation of innovation fund investments.

Operating cash flow increased by $37.9 million to $296.0 million and the Board has declared a final dividend of $1.75, an increase of 9 per cent.

Cochlear implant units down 3 per cent, with developed markets in line with FY18 but emerging market volumes declined.

The US and Germany lost market share following a competitor product launch.

Full year dividends increased by 10 per cent to $3.30 in FY19, fully franked.

Shares in Cochlear (ASX:COH) are trading 1.48 per cent higher at $204.51.