Today, the All Ordinaries (ASX: XAO) was trading 0.09% higher on Wednesday with Cochlear Limited (ASX:COH), Orica Ltd (ASX:ORI) and Sonic Healthcare Limited (ASX:SHL) making headlines on the Australian share market.
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1. Cochlear – up 10%
In its half-year financial report, released today, Cochlear revealed its revenue came in at $777.6 million, up $65.7 million over the prior corresponding period in 2019.
“The highlight was the strong growth in cochlear implant revenue with lower than expected Acoustics sales,” Cochlear CEO Dig Howitt said.
Meanwhile, Cochear’s profit was $157.7 million, up $29.1 million, and the half-year dividend declared by the company stood at $1.60, up 3.23%. The dividend is fully franked.
Click here to keep reading about Cochlear’s update.
2. Orica – trading halt
Orica is one of the world’s largest providers of commercial explosives and blasting systems. It supplies its products to various industries including mining, quarrying and oil & gas.
Today, Orica announced it will acquire Exsa, a company which is Peru’s leading manufacturer and distributor of industrial explosives.
Orica says the deal will give it a leading position in the Latin American Market, a market expected to grow at 4% annually until 2025. Orica will pay a price of $US203 million ($302 million), which represents a valuation multiple of EBITDA of 14x, funded by a $500 million capital raising.
You can read more about Orica’s update by clicking here.
3. Sonic Healthcare – down 1%
Sonic Healthcare is one of Australia’s largest healthcare businesses, it provides laboratory services, pathology, and radiology services.
Before the ASX’s open today Sonic announced its 2020 half-year revenue and profit result showing growth of 15% and 14%, respectively. The company maintained its policy of paying dividends in-line with profit results, notching up the half-year dividend by 1 cent (3%) from 33 cents per share to 34 cents per share.
“Sonic Healthcare has reported record results for the half year, enhanced by the impacts of the Aurora Diagnostics acquisition completed in January 2019,” Sonic’s CEO Colin Goldschmidt said.
“The Aurora business has performed well since acquisition, in line with our expectations, and cost and revenue synergies are in train.”
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