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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.