Business
ASX 200 sinks 1.3%, Cochlear soars, TWE sours on Friday 19 February 2021
The S&P/ASX 200 Index (ASX: XJO) fell by 1.3% today to 6,794 points.
Reporting season continues to roll on as some companies impress the market.
Here are some of the highlights from today:
The Cochlear share price soared by almost 9% today after the healthcare business reported its result for the six months to 31 December 2020.
Cochlear said that its sales revenue fell by 4% to $742.8 million. Underlying earnings before interest and tax (EBIT) declined by 4% to $175.6 million and underlying net profit after tax (NPAT) dropped 6% to $125.3 million.
The statutory net profit after tax (NPAT) jumped 50% to $236.2 million with $59 million of patent litigation-related tax and other benefits, $34.7 million of innovation fund gains and…
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