Business
Cochlear posts $238m loss as COVID, patent case bites – Sydney Morning Herald
Underlying profit at the hearing implant maker slid 42 per cent as coronavirus shutdowns impacted sales.
The expense brought the company’s overall net loss to $238.3 million, a 186 per cent drop on last year’s $276.7 million profit.
Cochlear shares rose 6.5 per cent to $211.28 in morning trade.
Chief executive Dig Howitt said the tough coronavirus conditions had not changed the company’s broader goals of retaining and growing market leadership for its products.
He said elective surgeries had started to flow back in key markets but Cochlear was watching closely to evaluate the impact of the pande…
-
General19 hours agoRestaurants on the brink as business failures plateau
-
General19 hours agoRegional house price growth outstrips capital cities
-
General16 hours agoCharlotte McConaghy calls for climate change action in new novel Wild Dark Shore
-
General8 hours agoThree maps that show the scale of the NSW flood disaster