News: Cochlear sales slow

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Cochlear Limited (ASX:COH) says sales have slowed in the second half of the financial year, ahead of the launch of its newest range of products.

 

The hearing implant maker says it expects to make a net profit of between $130 and $135 million in the 2012/13 financial year.

 

The predicted profit is significantly higher than the $57 million profit it made in the 2011/12 financial year as that result was hit by over $100 million in costs from a recall of its Nucleus C1500 series implant.

 

But its forecast for this financial year is lower than the $180 million net profit it made in the year before the mass product recall.

 

The company expects to pay a final dividend of $1.25 per share for the financial year, in line with its interim dividend.

 

Cochlear generated a net profit of $77.6 million in the first half of the current financial year