News: UPDATE 1-Australia's Cochlear posts 30 percent profit jump

(Adds CEO comment, details)

Cochlear Ltd (COH), the world's top hearing implants maker, posted a 30 percent rise in annual net profit, meeting its guidance on strong sales growth, and forecast a 15 percent profit rise in the current year.

Cochlear, which accounts for two-thirds of hearing implants sold globally, said net profit rose to A$188.9 million ($144.5 million) for the year to June 30 on a 23 percent rise in revenue to A$1.158 billion, exceeding A$1 billion for the first time.

"We have strengthened our market-leading position with the success of a suite of product releases made over the past 18 months," chief executive Chris Smith said in a statement, including a thinner implant which allows less intrusive surgery.

Sales revenue in Asia Pacific grew 31 percent, benefiting from Chinese government tenders. Sales also grew in Cochlear's main markets, Europe and the United States, which make up 82 percent of sales revenue.

The company will pay a final dividend of A$1.20 per share, up 20 percent on a year ago, and said it plans to boost investment in research and development by 12 percent to A$143.1 million.

Cochlear, which last year missed market expectations and cut its dividend amid the fallout from a voluntary product recall in 2011, forecast net income for 2016/17 in the range of A$210-225 million.

"I think the credibility is intact and the integrity of the company is intact," said Morningstar analyst Chris Kallos.

Cochlear's shares have climbed more than 34 percent so far this year amid a broad rally in health stocks as investors look for defensive plays and make bets on the needs of Australia's ageing population.

The healthcare index .AXHJ on the Australian Stock Exchange has risen 12.0 percent, compared with 4.6 percent for the broader S&P/ASX 200 index (xjo).

"Healthcare has got the ageing demographic, the majors have got a global reach and when you look at the top five: Resmed, CSL, Ramsay, Cochlear and Sonic, they're all performing well," Kallos said.

Sleep apnoea device maker ResMed Inc (RMD) posted a 14 percent gain in quarterly revenue last month. Ramsay Healthcare (RHC), blood-products maker CSL (CSL) and Sonic Healthcare Ltd (SHL) are due to report results later in August. ($1 = 1.3070 Australian dollars)