F&P sees continuing boom in healthcare

By YOKE HAR LEE

Whiteware manufacturer Fisher & Paykel expects its "golden goose," the healthcare division, to achieve double-digit revenue growth.

Chairman Sir Colin Maiden says revenue and earnings continue to grow at around 15 per cent a year "in line with our strategic objectives for healthcare."

The big contributors were humidification and patient-warming products.

Announcing the company's dividend policy, Sir Colin said Fisher & Paykel had a committed policy of paying close to 60 per cent of group profit in dividends - subject to capital expenditure and working capital requirements.

Corporate affairs manager Richard Blundell said the company believed that healthcare could continue to grow at 15 per cent for the next five years.

The company is building a 23,000 sq m healthcare facility by its East Tamaki head office.

In whiteware, Fisher & Paykel said the benefits of restructuring and a more focused approach by the division should enable it to achieve 10 per cent earnings, before interest and tax, on revenue over the next two to three years.

The company is declaring its dividend ahead of the deadline for the introduction of the 39c tax rate on April 1.

It will pay a final dividend of 15c a share for a total dividend of 25c for the full year. The company also declared a special dividend of 15c. Both will be paid on March 24.