Fisher & Paykel reports growth

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Tuesday, December 3, 2019

AUCKLAND, New Zealand – Fisher & Paykel Healthcare reported net profit after tax of $121.2 million for the six months ended Sept. 30, representing 24% growth.

The company reported operating revenue of $570.9 million, representing 12% growth.

F&P reported operating revenue of NZ$214.7 million for its homecare product group, representing 2% growth.

“Revenue from our new F&P Vitera full face mask in Australasia, Canada and Europe has partially offset declines in sales of some of our legacy OSA masks, resulting in homecare revenue in line with expectations for the first half,” said Managing Director and CEO Lewis Gradon. “Vitera was launched in the United States in October, and we are encouraged by the early response from customers.”

At current exchange rates, F&P expects full-year operating revenue for the 2020 financial year to be about $1.19 billion and net profit after tax to be in the range of about $255 million to $256 million.

In the homecare product group, F&P expects the 2020 financial year to be similar to the previous year, with growth in home respiratory support but ongoing pressure in legacy OSA masks.