Sydney, Aug 14, 2007 (ABN Newswire) - The share market tracked lower today as ongoing jitters about the global credit squeeze put pressure on some of the index heavyweights. RAMS was a notable casualty of the day, the stock diving after warning that volatility in global debt markets could impact earnings.

The S&P/ASX 200 Index closed down 47 points at 5965, and on the futures market the SPI 200 shed 34 points.

Turning to company news now, Cochlear has announced a significant increase in its full year profit. Earnings rose 25 per cent to $100.13 million. Total sales rose 24 per cent to just under 16 thousand units. The company said in a statement the result was underpinned by strong growth across the region, particularly in China, India, Korea and Australia. The hearing implant company says the outlook is for continued earnings outlook growth of between 15 and 20 per cent. Shares in Cochlear closed 2.33% higher at $63.25

The full report is available at the following video and audio links.

Video Link

http://acnnewswire.net/lnk/R49VB30G


Audio Link

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