Fisher & Paykel Healthcare managing director Lewis Gradon Photo: Supplied / Fisher & Paykel Healthcare
New Zealand's largest exporter Fisher & Paykel Healthcare has beaten expectations with a 39 percent increase in first-half net profit with revenue up 14 percent.
The respiratory appliance manufacturer's first-half net profit for the period ended September was $213 million, with record revenue of $1.09 billion.
"This is a strong result against the backdrop of robust growth in the first half of last year," managing director Lewis Gradon said.
"We saw broad-based strength across the Hospital consumables portfolio during a period of lower seasonal respiratory hospitalisations, and in Homecare, our latest range of masks for treating obstructive sleep apnea has performed well."
Key numbers for the six months ended September compared with a year ago:
- Net profit $213m vs $153.2m
- Revenue $1.09b $951.2m
- Hospital operating profit $692.2m vs $591.4m
- Homecare operating profit $359.9 m vs $359.4m
- Operating margin 26.3% vs 22.9%
- Interim dividend 19 cents per share vs 18.5 cps
Gradon said efficiency gains contributed to an improved gross margin despite the recent impact of US tariffs on Hospital products sourced from New Zealand.
Looking ahead
The company also lifted its full year revenue and profit guidance by $20m.
The consensus for full year revenue was in a range of $2.15b to $2.25b, with net profit of $436m, which was near the top of its guidance range of $390m and $440m.
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