Company Interview / Cochlear hit by cost of living pressures

Key points:

Dig Howitt notes cost of living pressures impact Cochlear's profit projectionsGlobal growth potential, especially in the Asia Pacific, discussedUpcoming product launches to strengthen market leadership and hearing outcomes

Dig Howitt of Cochlear expects annual profit at the lower end due to cost of living pressures, particularly in the US, affecting upgrades. First-half revenue falls 13% to $305M, but statutory net profit rises 7% to $205M

Dig shares insight on Cochlear's strategy for long-term growth. citing an undertreated hearing loss market. Despite market volatility, he shows confidence in Cochlear's strategy and outlines the release of new products to enhance market position.

Cochlear focuses R&D to maintain its leader status, spending 12% of revenue annually. Growth is seen globally, with significant potential in the Asia Pacific. Products transitioning users from hearing aids to implants greatly improve hearing quality.