Innovation is continuing to bolster Fisher & Paykel Healthcare's business in the face of a stubbornly high New Zealand dollar, says chief executive Mike Daniell.

The contrasting fortunes of two of New Zealand's biggest technology manufacturers were highlighted when they both reported full-year results yesterday.

Fisher & Paykel Healthcare, which makes breathing masks and respirators, expects to beat analyst expectations for 2014 profit as it surpassed its own guidance for 2103 profit today.

About 900 F & P Healthcare production, maintenance and distribution workers at the company's Highbrook plant have given 14 days notice of strike action over a pay dispute.

The New Zealand stock exchange closed today down 2.78 per cent after sharp falls earlier today, but more markets around the world are continuing to suffer from investor concerns about the downgrading of the US credit rating.