Fisher & Paykel Healthcare exceeded expectations by achieving a 39% rise in first-half net profit alongside a 14% increase in revenue.
The respiratory appliance manufacturer reported a first-half net profit of $213 million for the period ending in September, along with record revenue totalling $1.09 billion.
“We saw broad-based strength across the hospital consumables portfolio during a period of lower seasonal respiratory hospitalisations, and in homecare, our latest range of masks for treating obstructive sleep apnoea has performed well,” managing director Lewis Gradon said.
The numbers for the six months ended in September compared with a year ago show hospital operating profit increased to $692.2 million from $591.4 million, homecare operating profit remained steady at $359.9 million versus $359.4 million, the operating margin rose to 26.3% from 22.9%, and the interim dividend per share increased to 19 cents compared with 18.5 cents last year.
Gradon explained that efficiency improvements helped boost the gross margin, despite the recent challenges posed by US tariffs on hospital products sourced from New Zealand.
The company raised its full-year revenue and profit forecast by $20 million, reflecting increased confidence in its financial performance.