Cochlear Ltd (ASX:COH) has beat analysts' expectations to record a 16 per cent increase in first-half net profit, underpinned by sales growth from its recently launched Nucleus 5 implant.
In the six months to 31 December, the hearing implant company delivered a net profit of $87.2 million, up from $75.2 million the year before.
In the same period revenue rose 8 per cent to $377 million.
Cochlear has not provided guidance for the year, though says it is strategically well positioned for long-term sustainable growth and the outlook remains positive.
The company also adds that there is a significant unmet clinical need for Cochlear's products, leading to ongoing demand from the emerging and developed markets.
In the year to 30 June 2010, Cochlear boosted its net profit by 19 per cent to $155.2 million.
COH Price at posting:
$77.12 Sentiment: None Disclosure: Held
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