Cochlear posted a $191 million half-year profit year, up 35 per cent from a year ago, as the hearing company consolidated recent market share gains following launch of a new sound processor.
Its revenue for the six months to December 31 grew 20 per cent to $1.1 billion in constant currency terms, Cochlear announced Monday.
Adjusted for currency fluctuations, Cochlear's net profit after tax was up 21 per cent, compared to a year earlier.
Cochlear said it had grown market share across both developed and emerging markets, and in all age segments.
"We continue to see an improving trend in adult referral rates in key markets, in part driven by initiatives to improve awareness and access for adult cochlear implant candidates," the company said.
Cochlear said there had been strong demand for its new Nucleus 8 Sound Processor, which is smaller and lighter than its previous model and automatically adjusts to changes in the audio environment.
Cochlear sold 24,193 implants, up 14 per cent from a year ago, and says it now expects to achieve 10 to 15 per cent full-year sales growth, up from the high single-digit growth expected in August.
Cochlear will pay a $2 per share dividend, up 29 per cent from a year ago. The dividend is 70 per cent franked, double the rate of a year ago.
RBC Capital Markets analyst Craig Wong-Pan said the result was broadly in line with expectations.
Early Monday, Cochlear shares were down 2.2 per cent to $327.12, underperforming the broader market.
