F&P provides FY2022 trading update

AUCKLAND, New Zealand – Fisher & Paykel Healthcare reported revenue of $583 million for the first four months of its financial year 2022.  

Seventy-four percent of that revenue came from F&P’s hospital group during the four-month time period, which ended July 31. Constant currency revenue was 3% below the prior comparable period. This consisted of a 13% decline in hardware sales, partially offset by 2% growth in consumables.  

The company’s hospital consumables sales continue to reflect the clinical practice shift from invasive ventilation toward the use of Optiflow nasal high flow therapy, as demonstrated by new applications consumables growth of 17% in constant currency. 

In the company’s homecare product group, constant currency revenue was 4% above the prior comparable period, with 4% growth in obstructive sleep apnea masks. 

The company isn’t providing guidance for FY2022, due to continued uncertainty around the COVID-19 pandemic, say company officials. 

“With the ongoing global vaccination activity, and most countries now having experienced a COVID-19 hospitalization surge resulting in a corresponding boost in hospital treatment capacity, we do not expect our Hospital hardware revenue to continue at this elevated level for the remainder of the financial year,” said Lewis Gradon, managing director and CEO. “In our homecare product group, growth in OSA masks is dependent on new patient diagnosis rates, which we currently expect will continue to be at or above FY21 rates for the remainder of the 2022 financial year.” 

in June, the company reported operating revenue of $1.97 billion for fiscal year 2021, which ended March 31, 2021, an increase of 56%.