The Cochlear Limited (ASX: COH) share price has been a strong performer so far in 2021.
Since the start of the year, the hearing solutions company’s shares are up a sizeable 16%.
Why is the Cochlear share price charging higher?
The Cochlear share price was given a major boost earlier this month from the release of a better than expected half year result.
For the six months ended 31 December, the company reported a 4% decline in sales to $742.8 million. This followed a big improvement in the second quarter which saw constant currency sales increase 7% over the prior corresponding period.
On the bottom line, the company posted a 6% decline in underlying net profit to $125.3 million. Management advised that this reflected a recovery…