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BRIEF-Cochlear Says No Net Profit Guidance Will Be Provided For FY21

Published 18/08/2020, 09:27 am
© Reuters.
COH
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Aug 18 (Reuters) - Cochlear Ltd COH.AX :

* NO NET PROFIT GUIDANCE WILL BE PROVIDED GIVEN UNCERTAINTY IN FORECASTING REVENUES FOR FY21

* IN CONSIDERING USE OF CASH FOR FY21, FORECASTING AROUND $90 MILLION IN CAPITAL EXPENDITURE

* AIMING TO GET REGULATORY APPROVAL FOR THE OSIA 2 SYSTEM IN EUROPE BY MID 2021

* EXPECTS TO RESUME PAYMENT OF DIVIDEND ONCE A CLEAR & SUSTAINED IMPROVEMENT IN SALES REVENUE HAS BEEN ESTABLISHED

* INVESTMENT IN RESEARCH AND DEVELOPMENT IS EXPECTED TO INCREASE TO AROUND $190‐195 MILLION IN FY21

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