Fisher & Paykel Healthcare said it had revised up its net
profit forecast for the year to March, based on improved
sales, despite the ongoing strength of the New Zealand
The company now expects its net profit to be about $75
million for the year, up from a forecast issued last November
The revised forecast assumes the exchange rate will remain at
current levels until the end of the financial year.
Fisher & Paykel Healthcare, which specialises in making
electronic respiratory devices for the treatment of
obstructive sleep apnoea (OSA), said sales growth during the
second half had been encouraging, particularly for its
respiratory consumables products.
"We are expecting constant currency operating revenue growth
for the second half to increase to approximately 14 per cent,
up from 8 per cent, for the first half," it said in a
Chief executive Michael Daniell said operating margin had
also continued to improve as a result of new products and
operating efficiency gains.
The company also announced an expansion of its full face mask
offering, with the introduction of the 'F&P Simplus' - a
full face mask for use in the treatment of OSA.
Fisher & Paykel Healthcare shares last traded at $2.45,
up 11c or 4.7 per cent from Tuesday's close, and towards the
top end of its $1.86 to $2.64 range over the last 52 weeks.