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.


© Scoop Media

Business Headlines | Sci-Tech Headlines


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news