F & P Healthcare profits up 76pc to $62.2m

Fisher & Paykel Healthcare, Assemblers, Zeny Alarcon and Ua Halatanu. Photo/Brett Phibbs.

Fisher & Paykel Healthcare reported a 76 per cent rise in full-year net profit to $62.2 million.

The company today said its operating profit for the year to the end of March also grew 76 per cent, compared to the prior year, to $102.4m.

The growth was a result of strong growth in the respiratory and acute care product group, new product introductions in the obstructive sleep apnea range and favourable exchange rate movements.

Operating revenue for the year rose 28 per cent to a record $458.7m, or in US dollar terms grew 10 per cent to US$299.3m, Healthcare said.

A final dividend of 7c per share will be paid, the same as last year and carrying full imputation credits.

For the 2010 financial year the company said it estimated that, at an average exchange rate of US60c to the NZ dollar, it would achieve operating revenue of about $540m, along with 25 per cent growth in net profit to about $75m to $80m.

Healthcare shares were down 17c to $2.90 about 40 minutes after the sharemarket opened today.

- NZPA