New manufacturing lines are being developed at Fisher & Paykel Healthcare's South Auckland plant.
Any currency weakness later in the year or next year will be cream on top, says broker. 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.