ResMed earnings spike wakes market

Sleep disorder group Resmed's improved earnings has seen its stock soar.

Local investors have cheered dual-listed ResMed Ltd's spike in full-year profit, sending the stock to an all-time high in morning trade. 

The group, which makes devices to treat sleeping disorders, posted a 21 per cent jump in net profit to $US307.1 million for the year to June 30 from $US254.85 million in the previous corresponding period.

The rise was driven by both top line and bottom line growth and came on an 11 per cent increase in revenue to $US1.5 billion.

At 1055 AEST Shares added 1.6 per cent to $5.405 against a benchmark rise of 1.05 per cent. 

Earlier, they touched $5.55. 

Investors will see a 47 per cent increase in dividend for the June quarter to US25¢ per share, payable on September 17. 

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