Softness in Emerging Markets Offsets Strong Momentum in the Americas for Cochlear
Wide-moat Cochlear’s first-half fiscal 2018 results were mixed showing strong sales growth in the developed markets, namely the Americas, and to a lesser extent in Western Europe. Unfortunately, this was offset by weakness in emerging markets where the company lost ground in government tenders to competitors on the basis of price, most notably in China. Cochlear implant units totaled 15,972, down 2%, and up 5% excluding Chinese government tender units, on the previous corresponding period, or pc...
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