Photo: Supplied / Fisher & Paykel Healthcare
Fisher & Paykel Healthcare's first half profit surged on the back of record revenue, as it saw strong demand for products from busy hospitals and better margins.
Key numbers for the six months ended September compared with a year ago:
- Net profit $153.2m vs $107.3m
- Revenue $951.2m vs $803.7m
- Expenses $370.6m vs $333.5m
- Gross margin 61.9% vs 60.5%
- Interim dividend 18.5 cents per share vs 18 cps
The company - New Zealand's most valuable listed company - said the result was primarily driven by new product introduction and changing clinical practice.
"Early indications are that a relatively high hospital census during the period may have contributed as well, as hospitals returned to more normalised staffing and capacity, and seasonal hospitalisations in the Northern Hemisphere from FY24 persisted into the beginning of our current financial year," chief executive Lewis Gradon said.
Gross margin improved by 141 basis points from the previous period.
Its hospital products, which included humidification products used in respiratory, acute and surgical care, revenue was up 21 percent from a year ago.
Homecare products saw a 14 percent increase in revenue, and sales of masks and accessories that treat obstructive sleep apnea also rose 14 percent.
"Growth has been broad-based across our entire portfolio of hospital products, including in invasive and non-invasive ventilation and Optiflow for respiratory and anaesthesia patients, all suggesting that we are making headway with changing clinical practice," Gradon said.
Looking ahead, Fisher & Paykel Healthcare retained its full-year guidance of revenue in the range of $1.9 billion to $2b, and full-year after-tax profit in the range of $320m to $370m.
"In our homecare product group, we have introduced three new mask models into major markets over the last 10 months. They are performing well, and we think they will continue to drive similar results for the remainder of the financial year," Gradon said.
"For our hospital product group, we expect similar contributions from change in clinical practice and new product introductions," he said.
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