Any weakening in the New Zealand dollar would provide the "cream on top" for medical device exporter Fisher & Paykel Healthcare, which is already delivering outstanding financial results despite the currency's continuing strength, an analyst says.
The Auckland-based company, whose products include respiratory humidifiers used in hospital intensive care units and devices used by sufferers of obstructive sleep apnoea, yesterday lifted its full-year profit guidance to around $97 million - assuming exchange rates remain at current levels - from the firm's previous forecast of $90 million to $95 million.
F&P Healthcare's share price has almost doubled over the past two years and yesterday's announcement pushed the stock to a new all-time high of $4.19.
Three years ago F&P Healthcare was facing falling profits and a declining share price as the company, which derives roughly 50 per cent of its operating revenue in US dollars, came under pressure from the strong currency.