Cochlear shares skid

HEARING implant company Cochlear says its profits have risen 16 per cent to $128.6 million, but its shares have plunged after it said its growth in US and Europe has slowed. The company said its sales revenue was up 11 per cent (6 per cent in constant currency) to $711.9 million. The company declared an interim dividend of $1.55, an increase of 11 per cent on last year. The company said it was experiencing strong growth in Japan but lower growth in the US and Europe.

Yesterday its shares were down 7.57 per cent, or $14.72, to $179.69.