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Cochlear's latest implant well received

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February 13, 2018

Hearing implant maker Cochlear's half year profit has fallen slightly.

Cochlear has maintained its full-year guidance even though first-half profit fell one per cent due to the impact of US tax changes.

The hearing implant developer says net profit for the six months to December 31 fell to $110.8 million due to a $5.5 million hit from a revaluation of deferred tax assets, although the full-year impact will be reduced by the lower US corporate tax rate.

First-half sales revenue rose six per cent to $639.6 million and Cochlear, which expects full-year profit to rise from $223.6 million to as much as $250 million, lifted its fully franked interim dividend 10 cents to $1.40.

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