REPORTING SEASON: Cochlear Ltd (COH)
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Figure 1: Cochlear Ltd 12 month chart
Improvements in second half sales drive Cochlear’s result.
· Hearing implant maker Cochlear (COH) reported net profit after tax that was at the bottom end of the markets expectations which ranged from $91 to $101Million.
· Whilst net profit attributable to members fell by 29% the result was helped by improved sales in the second half of the year.
· Sales improved over the second half of the year benefiting from earlier product releases.
· However concerns remain over the scope for sales growth as COH’s competitors continue to grow their market share.
· Cochlear will pay a final dividend of $1.27 on the 25th of September which will bring the full year payment to $2.54.