Higher half year profit for medical equipment maker
Fisher & Paykel Healthcare has posted an improved half year profit due to higher revenues and improving margins.
The maker of devices to treat respiratory problems and sleep disorders made $33.3 million in the six months to September, an increase of 18% compared with the same period a year ago.
The company declared an unchanged dividend of 5.4 cents per share.
Looking ahead, the company raised its full year forecast to between $69 - $72 million, compared with an earlier estimate of $65 - $69 million.
Shares in the company closed up 5 cents to $2.49 on Thursday, but at one stage were up 16 cents.
Sales rose 6% to hit a record all time high of $276 million.
About 44% of sales are generated in North America, but Fisher & Paykel Healthcare chief executive Mike Daniell says the company is benefitting from the rising middle classes and improved health infrastructure in China and India.
Fisher & Paykel Healthcare earns roughly two-thirds of its revenue from the United States.
Listen to Mike Daniell on Checkpoint ( 3 min 18 sec )
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