NZX-listed firm Fisher & Paykel Healthcare has posted a 24% rise in profit, supported by strong demand for hospital products and improving profit margins.
For the 12 months ended March, compared with the previous year, the company reported the following results:
Net profit rose to $468.5 million, up from $377.2 million a year earlier. Revenue increased to $2.31 billion from $2.02 billion, while underlying profit also lifted to $468.5 million from $377.2 million.
Gross margin improved slightly to 63.7%, compared with 62.9% previously. The final dividend was raised to 33 cents per share, up from 24 cents per share.
The company’s net profit came in at the upper end of its guidance range of $450–$470 million and was slightly ahead of market expectations of $466 million.
“We were especially encouraged by consumables growth, given it occurred during a period in which hospital admissions for seasonal respiratory illnesses in the United States and other major markets appeared to be subdued compared to the previous year,” Chief Executive Lewis Gradon said.
“This suggests that changing clinical practice continues to be a strong growth driver.”
Its homecare product group, which includes products used in treating obstructive sleep apnoea, recorded an 8% increase in revenue.
Gross margin improved to 63.7%, up 80 basis points, or 122 basis points in constant currency terms.
For the financial year ending March 2027, the company is forecasting full-year after-tax profit of between $500 million and $550 million, alongside operating revenue projected in the range of $2.45 billion to $2.57 billion.
“The growth we have achieved is uncommon, and we do not take it for granted,” Gradon said.
“The key now is to sustain that momentum – continuing to innovate, improve and work closely with our customers to create lasting value.”