Cochlear Limited’s (ASX:COH) first half net profit has surged 481 per cent to $77.7 million, rebounding from a $20.4 million loss in the same period last year.
The hearing device company posted a record number of implant sales in the period, totalling over 13 thousand units.
Total revenue increased by 1 per cent to $391.7 million, with sales growing by 9 per cent.
CEO Dr Chris Roberts says the record unit sales confirm Cochlear’s market leadership position.
Cochlear says its long term growth prospects continue to strengthen owing to a growing global footprint, sound financials and a leading market share.
An interim dividend of $1.25, franked 40 per cent, has been declared, to be paid on March 12.
COH Price at posting:
$75.96 Sentiment: None Disclosure: Held
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