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Cochlear expects net profit advance for next year

The Australian manufacturer of cochlear implants has beaten analysts’ revenue and net profit expectations for financial 2021/2022, and is raising its net profit margin prognosis to 8–13% for next year.

Photo: Doug Finger/AP/Ritzau Scanpix

Australian hearing group Cochlear is expecting to advance its underlying net profit margin to 8–13% in next financial year 2022/2023, having just booked a 18% increase for 2021/2022.

Revenue went up in the 12-month period, which ended in June, by 10% to AUD 1.65bn (USD 1.14bn), at the same time as the company saw the underlying profit rise 18% to AUD 277m (USD 191m).

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