COH +9%: A stronger than expected sect of 1H22 results from the hearing implant company today driving the share price sharply higher. While there has been intermittent restrictions impacting operating conditions around the world, Cochlear have still managed to grow both revenue and margins, particularly in developed markets, with a surprise fall in operating expenses. Guidance was maintained for the full year, looking for net profit of $265-285m however it now includes COVID costs and cloud computing expenses, so really around a 5% increase to what the market had pencilled in.
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Performance update for March, stocks that drove returns & our current positioning
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Wednesday 24th April – ASX200 +17pts, Silver Lake (SLR), Kogan (KGN) & CPI
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Market Matters Research Lead Shawn Hickman with David Koch
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Wednesday 24th April – DOW +263pts, SPI +27pts
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