February 12, 2018 / 11:50 PM / 5 months ago

UPDATE 1-Australia's Cochlear first-half profit slips on higher marketing spend

(Adds share price movement, details on expenses)

Feb 13 (Reuters) - Australian hearing aid maker Cochlear Ltd said on Tuesday its first-half net profit slipped 1 percent, as selling and general expenses spiked.

Net profit for the six months ended Dec. 31 was A$110.8 million ($87.09 million), lower than A$111.4 million a year ago.

Profit was hit by a 14 percent jump in selling, marketing and general expenses as the firm incurred higher marketing costs and launched its Nucleus 7 Sound Processor device in September.

The firm declared an interim dividend of A$1.40 per share, higher than A$1.30 a year ago.

It reaffirmed its reported net profit outlook of A$240 million to A$250 million for the fiscal year 2018.

Shares of the firm were trading 3 percent lower at 2340 GMT, compared with a flat broader market.

$1 = 1.2723 Australian dollars Reporting by Aaron Saldanha in Bengaluru; Editing by Stephen Coates

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