Developed country markets drive Cochlear growth

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Cochlear (ASX:COH) has announced its half-year results with a 12 per cent increase in revenue to $815 million driven by strong demand for sound processor upgrades and new acoustic implant products.

The company said its implant revenue continued to experience variability in performance across countries with intermittent COVID‐related restrictions reducing overall operating theatre capacity.

Developed market volumes were ahead of pre‐COVID levels despite a modest decline in the half

Cochlear reported a 7 per cent increase in implant units to 18,598 and a statutory net profit of $169 million. It said it maintains its full-year underlying net profit guidance range at $265 to 285 million.

The company said it remains focused on "driving long‐term market growth by transforming the way people understand and treat moderately severe to profound hearing loss through awareness and access activities."

"During the half we continued to invest in expanding our programs for driving growth of the adults and seniors segment through direct‐to‐consumer marketing activities and building referrals from hearing aid and ENT (ear, nose and throat) clinics," it said.