26 May 2010

Profit boost for medical equipment maker

12:14 pm on 26 May 2010

Strong sales of sleep apnea and respiratory products have helped to boost the full year profit of Fisher & Paykel Healthcare by 15%.

The listed medical equipment maker made $71.6 million in the year to the end of March - up from $62.3 million the previous year.

Operating revenue rose almost 10% to $503 million.

Chief executive Michael Daniell says he's encouraged by the strong growth in demand for the company's products.

The company expects to make between $70 - $75 million in the 2011 financial year, assuming the New Zealand dollar averages 67 US cents.

The company will pay an unchanged final dividend of 7 cents per share.

Shares in Fisher & Paykel Healthcare remained unchanged at $3.40 on Wednesday.