Cochlear: Interim result 2014

Cochlear has reported a horrible-looking first half, but there are early signs of an improvement for the second half and into 2015.

After bottom-of-the-table Fulham scored in injury time to snatch a draw at Manchester United on Sunday, new manager David Moyes declared that it was ‘as bad as it gets’. United fans will want to believe him, but on recent form they will find it hard.

The underlying message from Cochlear chief executive Chris Roberts on Tuesday was that the company’s latest half was as bad as it gets, but investors are evidently finding it hard to keep the faith and the stock closed the day 9% lower.

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