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

 


FPH announces Mexico manufacturing expansion

FPH lifts earnings guidance, announces Mexico manufacturing expansion

Fisher & Paykel Healthcare Corporation Limited (NZSX:FPH, ASX:FPH) announced today that it had raised its earnings guidance and will expand its manufacturing facility in Tijuana, Mexico.

The company now expects net profit after tax to be approximately NZ$97 million for the financial year ending 31 March 2014, assuming a continuation of current exchange rates. At its previous guidance update in November 2013, the company said it expected full year net profit to be in the range of NZ$90 million to NZ$95 million.

“Demand during the second half has been very encouraging, particularly for our Simplus, Eson and Pilairo Q masks, which are used for the treatment of OSA”, commented Michael Daniell, Fisher & Paykel Healthcare’s CEO.

“Operating margin has continued to improve as a result of product mix, operating efficiency gains and manufacturing at our Mexico facility”.

The company also announced that it will expand its available manufacturing area in Tijuana, Mexico.

The NZ$4 million fit-out will increase the Mexico facility manufacturing area by two thirds and will accommodate the installation of additional manufacturing equipment over the next three years for products such as breathing systems and masks. The company expects the plant to be manufacturing approximately half of the company’s consumable product volume within three years.

“We have brought forward the expansion of the Tijuana facility to ensure that we can meet anticipated demand as a result of strong customer acceptance of products such as our new masks and Optiflow oxygen therapy system”, said Mr Daniell.

“Our focus on medical devices which can improve the effectiveness and efficiency of care supports the increasing emphasis of health systems on patient outcomes. For example, in the United States later this year, Medicare will begin to penalise hospitals for excessive chronic respiratory patient readmissions. We believe that this will increase the demand for our products which can help to improve care in the home for patients with chronic respiratory disease”.

“We are also continuing to invest at our site in Auckland, with a number of exciting new product platforms and associated manufacturing lines currently being developed”, concluded Mr Daniell.


ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Dairy And Travel Still Our Largest Export Earners

New Zealand earned $2.3 billion more from exports than we spent on imports during the year ended June 2015... total exports of goods and services were $67.5 billion, while total imports were $65.1 billion. More>>

ALSO:

Approval: Air New Zealand And Air China Launch New Alliance Route

Air New Zealand and Air China have today launched joint sales for a new daily direct service between Auckland and Beijing after receiving approval from New Zealand Minister of Transport Hon Simon Bridges to form a strategic alliance. More>>

ALSO:

Money Trading: FX Trader Jin Yuan Finance Warned Over Lack Of Monitoring

Jin Yuan Finance, an Auckland-based foreign exchange trader, has been warned over its lack of anti-money laundering processes in place in the first public notification by the Department of Internal Affairs. More>>

ALSO:

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news