Fisher & Paykel Healthcare has reported a record full-year profit and revenue due to strong demand for its breathing devices.
Fisher & Paykel Healthcare's Lewis Gradon is stepping into the company's top job after Michael Daniell's 30 years in the role. Photo: SUPPLIED
The manufacturer's net profit climbed to $143.4 million in the 12 months to the end of March, a 27 percent increase on the previous year. Revenue also hit a record $815.5m.
Chief executive Lewis Gradon said the profit exceeded expectations of $135-$140m.
"This result is due to strong uptake of our products across both the hospital and homecare settings and a continuation of gross margin expansion," he said.
"Our consistent investment in R&D is fuelling one of our most exciting periods of new product development, with humidifier controllers, masks, respiratory consumables, flow generators and compliance monitoring solutions all expected to be released during this current year."
Looking ahead to the new financial year, Mr Gradon expects revenue of around $900m and net profit in the range of $165-$170m.
The firm will pay a higher final dividend of 10 cents per share in July.