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Cochlear shares smash through $100

Ross Land/Getty Images

Shares in Cochlear soared after a weaker Australian dollar helped the bionic ear company lift half year profit by 32% to $94.03 million.

A short time ago, the shares broke through the $100 each level, rising 10.05% to $100.34.

It’s one of two on the ASX to be worth more than $100. The other is vitamin maker Blackmores, currently trading at $168.69.

Cochlear sales revenue would have risen only 16% without that boost from currency.

The company pushed sales revenue to $581.72 million, a rise of 32%, as the bionic ear manufacturer continues to expand globally.

Sales of the hearing devices have grow 26%, with almost half that from China.

Cochear will pay a fully franked $1.10 interim dividend, up from 90 cents.

The company expects full year profit to be between $180 million and $190 million, up from its previous forecast of $165 million and $175 million

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