ResMed posts lower profit

Medical equipment maker ResMed, a competitor of Fisher & Paykel Healthcare, is optimistic about future growth despite posting a lower annual net profit.

ResMed, which makes equipment to treat sleep and respiratory disorders, yesterday booked a net profit of US$66.3 million ($88.1 million) for 2006/07 compared with US$88.2 million the year before.

Overall sales in the Americas in the fourth quarter rose 10 per cent but growth was hurt by a product recall in the fourth quarter, which Resmed still expects to have an impact in the next year but at a lesser level.