Cochlear (ASX:COH) shares rise on reports of strong global growth

Company News

by Rachael Jones

Cochlear (ASX:COH) report strong growth in the US, Japan, Korea and China, improving momentum in Western Europe and a slower recovery across most emerging markets.

Statutory net profit for the half is $236.2 million, benefiting from a number of one-off gains.

Sales revenue declined 4 per cent to $742.8 million, with the first quarter down 8 per cent and the second quarter up 7 per cent.

Cochlear implant units declined 8 per cent.

The dividend has been re-introduced as a result of improved trading conditions and cash flow generation with an interim dividend of $1.15 per share.

Shares in Cochlear (ASX:COH) are trading 7.82 per cent higher at $220.50.