F&P Healthcare optimistic despite NZD

CLAIRE ROGERS
Last updated 15:13 20/02/2013

Relevant offers

Industries

And, we are (almost) go for Kiwi Rocket launch in northern Hawke's Bay Dancing Sands toasts success from Kiwi products Mark Hotchin returns to New Zealand but critics say Hanover investors unlikely to forgive From urban planning to underwear: Confitex co-founder Mark Davey Top of the south working group advocates seek focus in fishery preservation 1MBD scandal: Judge allows Malaysian businessman tussling for $370m in seized assets to take control of NZ trusts Z Energy to help get curious drivers behind the wheel of an EV BNZ internet banking outage: Customers unable to bank online Quirky QT hotel brand coming to Queenstown More than 500 job losses as more Pumpkin Patch stores to close

Fisher & Paykel Healthcare has upped its full-year earnings guidance thanks to strong second-half sales.  

The NZX and ASX-listed medical equipment manufacturer said that despite the continuing strength of the New Zealand dollar, it now expected net profit after tax for the year ending March 31 to be about $75 million - up on its previous upgraded estimate in November of between $69m and $72m.

The earnings upgrade followed encouraging second-half sales growth, chief executive Michael Daniell said, particularly for its respiratory products and its recently released Eson nasal mask and Pilairo nasal pillows mask.

"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," Daniell said.

FPH said its operating margin had continued to improve as a result of new products, operating efficiency gains and manufacturing at its Mexico facility.  

The company has also launched a new product, the Simplus full-face mask, for use in the treatment of obstructive sleep apnoea, a condition in which the person's upper airway is partly or completely blocked during sleep. 

Daniell said the initial customer response to the mask - available in New Zealand and Australia from April -had been positive.  

FPH shares on the NZX were trading down this afternoon, but jumped almost 6 per cent following the news to $2.48 - up 15 per cent on a year ago. 

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content