Fisher & Paykel Healthcare Corp Ltd (ASX:FPH) Profit Leaps 20%


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Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) reported on Monday that its net profit rose 20% in the first half of its 2019 financial year.

Fisher & Paykel Healthcare Corp is a manufacturer, designer and marketer of products & systems for use in respiratory care, acute care and the treatment of obstructive sleep apnea. The company has been operating in the healthcare industry since the 60s. The healthcare business has been a separate entity since 2001 when the company split from its appliances business.

Fisher & Paykel Healthcare result

During the halt, the company said its net profit after tax grew by 20% to NZ$97.4 million and operating revenue increased by 12% to NZ$511.3 million.

Operating revenue for the Hospital segment increased by 13% to NZ$297.3 million and represented 58% of the company’s total revenue. The Homecare segment grew revenue by 10% to NZ$211.1 million.

Fisher & Paykel Healthcare CEO Lewis Gradon said: “Our devices and systems used for nasal high flow therapy continue to drive much of the growth of our hospital business.”

Dividend

The company’s Board increased the interim dividend by 11% to 9.75 NZ cents per share, which will be paid on 21 December 2018.

Outlook

The company is projecting operating revenue to be around NZ$1.07 billion and net profit in the range of NZ$205 million to NZ$210 million.

Fisher & Paykel Healthcare’s share price is almost flat over the past six months before the start of trading, according to Google Finance.

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Jaz Harrison

Jaz Harrison

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