Breathing aids buoy F&P Healthcare

By GEORGINA BOND

New products boosted Fisher & Paykel Healthcare's half-year earnings to a record high and the company expects this to continue with more of them in the pipeline.

The medical equipment maker said new breathing devices released this year had contributed to record sales of $117.4 million - up from $105 million on last year - and a higher interim dividend.

The company's August forecast was $114 million to $117 million.

Net profit for the six months to September was $28.1 million, up from $25.2 million in the same period last year, with 60 per cent of sales coming from the US.

Chief executive Michael Daniell forecast full-year revenue between $227 million and $234 million, up from $214.8 million last year.

A fully tax-paid interim dividend of 5 cents per share will be paid on December 3.

Shares have gained 19 per cent this year.

Daniell said the company was close to revealing a new humidification system.

He forecast between $20 million and $50 million in debt over the next half as a result of the company's East Tamaki building project and dividend payouts.

Shares closed down 11 cents to $3.01 yesterday, having fetched between $2.30 and $3.14 over the past year.