Fisher & Paykel Healthcare has posted a record full-year profit, as demand grows for its breathing devices.
One of the breathing masks built by F&P Healthcare to treat obstructive sleep apnea. Photo: Supplied / F & P Healthcare
The manufacturer's net profit rose 18 percent to $169.2 million in the year to March.
The company - which makes a range of equipment from humidifiers to breathing masks and systems to treat obstructive sleep apnea - also boosted its operating revenue by 10 percent to a record $894.4m.
Chief executive Lewis Gradon said it was a strong result.
"We continue to benefit from the increasing adoption of our products by healthcare providers as they strive to improve the effectiveness and efficiency of care for their patients in both hospital and homecare environments," he said.
Its gross margin increased because of a favourable product mix and a rise in volumes from its Mexican manufacturing facility, he said.
Meanwhile, the company spent more on research and development - rising 17 percent to $86m.
"We are committed to continuous product improvement and this investment has seen the introduction of a number of innovative products over the financial year, with a substantial pipeline of new products to come," Mr Gradon said.
Looking ahead, the company is expecting operating revenue of $1 billion in the new financial year and a profit of $180m to $190m.