Fisher & Paykel’s respiratory and home care products have helped lift the company’s full-year profit 10 per cent to a record $NZ209.02 million ($A197.74 million).
The dual-listed health equipment provider lifted revenue 9.0 per cent to $NZ1.07 billion for the 12 months to March 31 as sales across its hospital group – which includes products used in respiratory, acute and surgical care – grew 11 per cent to a record $NZ642.3 million.
Despite this, Fisher & Paykel’s ASX-listed shares fell as much as 4.9 per cent on Monday having closed at an all-time high of $A15.80 the previous session.
Shares in the company were still 3.67 per cent lower at $A15.22 at 1250 AEST on Monday, suggesting investors were expecting more.
Chief executive Lewis Gradon said on Monday that Fisher and Paykel’s record profit had been driven by its innovative products and culture of continuous improvement.
It said an estimated three million patients were treated with its Optiflow respiratory products during the year.
Operating revenue for the company’s homecare product group rose four per cent to $NZ421.5 million, with hiatus in the company’s sleep apnoea mask launches offset by a strong contribution from the roll out of the new SleepStyle device.
Fisher & Paykel said in an announcement to the ASX it expects to lift its full year operating revenue for the 2020 financial year to $NZ1.15 billion, and forecast a net profit after tax of between $NZ240 million and $NZ250 million.
The company lifted its final dividend one cent to 13.5 NZ cents per share.
FISHER & PAYKEL FY PROFIT
* Net profit up 10pct to $NZ209.02m ($A197.74m)
* Revenue up 9.0pct to $NZ1.07b
* Final dividend up one cent to 13.5 NZ cents per share.