F&P saw improvements in back half of FY23 

AUCKLAND, New Zealand – Fisher & Paykel Healthcare reported $553.8 million in revenue for its Homecare product group for its 2023 financial year, 18% higher than the previous year.

The company says revenue for masks and accessories was up 17% for the full year and 24% for the second half of the year.

“Our Evora Full mask for OSA launched in the United States in May 2022 and contributed significantly to the strong OSA masks revenue,” said CEO Lewis Gradon. “It’s one of the most positive new mask launches we have ever experienced based on customer feedback and initial sales performance in the regions where it is available.”

F&P reported total operating revenue of $1.58 billion for its 2023 fiscal year, 6% lower than the previous year, and net profit after tax of $250.3 million, 34% lower.

The company saw improvements in the second half of the year, however, with operating revenue of $890.5 million, 14% higher than the second half of 2022.

“We are coming out of three financial years that were impacted by the COVID-19 pandemic, and our people, suppliers and customers have worked tirelessly to meet global demand surges,” Gradon said. “The second half result was encouraging, as market conditions progressed towards more of a normal state and both our Hospital and Homecare product groups delivered good growth.”

At current exchange rates, F&P expects $1.7 billion in total operating revenue for the 2024 financial year, with approximately similar revenue growth rates for both Hospital and Homecare product groups, providing there are no significant respiratory disease events.