February 12, 2018 / 10:17 PM / 4 months ago

BRIEF-Cochlear Says HY Net Profit For Period Attributable To Members $110.8​ Mln

Feb 13 (Reuters) - Cochlear Ltd:

* HY TOTAL REVENUE UP 7 PERCENT TO $649.6 MILLION

* ‍HY NET PROFIT FOR PERIOD ATTRIBUTABLE TO MEMBERS DOWN 1 PERCENT TO A$110.8​ MILLION

* ‍INTERIM DIVIDEND $1.40 PER SHARE ​

* ‍FOR FY18, COCHLEAR REAFFIRMS ITS EXPECTATIONS OF DELIVERING REPORTED NET PROFIT OF $240-250 MILLION​

* CONTINUES TO TARGET A DIVIDEND PAYOUT RATIO OF AROUND 70 PERCENT OF NET PROFIT​

* EXPECT FULL YEAR RESEARCH AND DEVELOPMENT EXPENDITURE TO BE $160 MILLION TO $170 MILLION

* FORECASTING WEIGHTED AVERAGE AUD/USD EXCHANGE RATE OF AROUND 79 CENTS FOR FY18

* ‍EXPECT FULL YEAR NET IMPACT OF CHANGE IN US TAX LEGISLATION TO REDUCE NET PROFIT BY $3-4 MILLION​

* ALL FIGURES IN A$‍​ Source text for Eikon: Further company coverage: (bangalore.newsroom@thomsonreuters.com)

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