Newsroom

Fisher and Paykel lifts profit outlook

Fisher & Paykel Healthcare (F&P) has upgraded its full year guidance again after gaining the right to sell its new full face mask in the United States.\

The company said the sale of the new full face mask used in the treatment of obstructive sleep apnoea (OSA) was expected to add $10 million to its previous guidance and $20m to sales.

F&P is now forecasting a net profit of between $255m to $265m for the year ended in March, with revenue of $1.19 billion.

The updated guidance also assumed a New Zealand dollar exchange rate of US$0.63, versus US$0.64 in the previous guidance, provided in August.

"We have had an ongoing strong start to the year in our hospital product group and our new OSA mask, Vitera, has been well received in Australia, Canada, New Zealand and Europe," said managing director Lewis Gradon.

"Clearance of Vitera for sale in the US this month is sooner than we had previously guided and this has been a meaningful contributor to the increase in our guidance."

This article was originally published on RNZ and re-published with permission.

We value fearless, independent journalism. We hope you do too.

Newsroom has repeatedly broken big, important national news stories and established a platform for quality journalism on issues ranging from climate change, sexual harassment and bullying through to science, foreign affairs, women’s sports and politics.

But we need your support to continue, whether it is great, small, ongoing or a one-off donation. If you believe in high quality journalism being available for all please click to become a Newsroom supporter.

Become a Supporter

Comments

Newsroom does not allow comments directly on this website. We invite all readers who wish to discuss a story or leave a comment to visit us on Twitter or Facebook. We also welcome your news tips and feedback via email: contact@newsroom.co.nz. Thank you.

With thanks to our partners