Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


F&P Healthcare lifts guidance as sales grow, margins widen

F&P Healthcare lifts guidance as sales grow, margins widen; shares rally

Feb. 20 (BusinessDesk) – Fisher & Paykel Healthcare, which makes breathing masks and respirators, lifted its full-year guidance a second time as demand for new breathing masks helps speed sales and margins widen. The shares jumped 6.8 percent on the news.

Net profit would rise be about $75 million in the year ending March 31, up 17 percent from a year earlier, the Auckland-based company said in a statement. That’s up from $69 million-to-$72 million range given in November and the $65 million-to-$69 million estimate in August.

Sales growth during the second half has been very encouraging, particularly for our respiratory consumables and recently released Eson and Pilairo masks,” said chief executive Michael Daniell. “Operating margins has also continued to improve as a result of new products, operating efficiency gains and manufacturing at our Mexico facility.”

The company says revenue growth accelerated to 14 percent in constant currency terms in the second half from 8 percent in the first half.

The shares rose 16 cents to $2.50, having fallen about 5 percent this year. The stock is rated ‘outperform’ based on the consensus of seven analysts polled by Reuters, with a price target of $2.60. It trades at a price-to-earnings ratio of about 18.

The company also announced the introduction of a new full-face mask, the F&P Simplus, for use in treatment of obstructive sleep apnea. It will initially be sold in New Zealand and Australia, before being rolled out in Canada and Europe, followed by the US market once it receives FDA clearance, it said.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Maritime: Navigation Safety Review Raises Big Issues For The Govt

Shipping Federation: "The reports makes it clear that the ratification of the Maritime Labour convention (MLC) is long overdue. Only when the MLC is ratified will Maritime NZ be able to inspect and enforce the labour conditions on international ships visiting our ports." More>>

ALSO:

100 Years After Einstein Prediction: Gravitational Waves Found

For the first time, scientists have observed ripples in the fabric of spacetime called gravitational waves, arriving at the earth from a cataclysmic event in the distant universe. This confirms a major prediction of Albert Einstein’s 1915 general theory of relativity and opens an unprecedented new window onto the cosmos. More>>

ALSO:

Farming: Alliance Plans To Start Docking Farmer Payments

Alliance Group, New Zealand's second-largest meat cooperative, plans to start withholding some stock payments to its farmers from next week to bolster its balance sheet and force suppliers to meet their share requirements. More>>

ALSO:

Gambling: SkyCity First Half Profit Rises 30%, Helped By High Rollers

SkyCity anticipates the Auckland business will benefit from government gaming concessions which were triggered on Nov. 11 in recognition of SkyCity’s $470 million Convention Centre development. Morrison said the concessions would allow the Auckland business to lift its activity during peak period, noting it had a record revenue week over the Christmas and New Year period. More>>

ALSO:

Money For Light: Kiwi Scientists Secure Preferential Access To Synchrotron

Science and Innovation Minister Steven Joyce today announced a three-year investment of $2.8 million in the Australian Synchrotron, the largest piece of scientific infrastructure in the Southern Hemisphere, to secure preferential access for Kiwi scientists. More>>

Telco Industry Report: Investment Hits $1.7 Bln A Year

Investment in the telecommunications sector is $1.7 billion a year, proportionately one of the highest levels in the OECD, according to a report released today on the status of the New Zealand sector. More>>

ALSO:

PGPs: New Programme Sets Sights On Strong Wool

A new collaboration between The New Zealand Merino Company (NZM) and the Ministry for Primary Industries (MPI), announced today, aims to deliver premiums for New Zealand's strong wool sector... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news