F&P hits revenue milestone

Tuesday, May 28, 2019

IRVINE, Calif. – Fisher & Paykel Healthcare reported NZ$421.5 million in operating revenue for its homecare product group for the 2019 financial year, representing 6% growth or 4% growth in constant currency. The company says a hiatus in sleep mask launches was offset by a strong contribution from its new SleepStyle Auto CPAP machine, which has been rolled out to all major markets. Overall, F&P reported NZ$1.07 billion in operating revenue for the year, representing 9% growth. “Achieving $1 billion in revenue is a milestone for our company; however, we are not sitting still,” said Lewis Grandon, managing director and CEO. “We will continue to build on our strengths and continuously improve and expand our portfolio of valued solutions for healthcare providers and patients.” Net profit after tax was up 10% to NZ$209.2 million for 2019. F&P expects full year operating revenue for the 2020 financial year to be about NZ$1.15 billion, and net profit after tax to be about NZ$240 million to NZ$250 million.