23 May 2013

Fisher and Paykel Healthcare posts record profit

7:48 pm on 23 May 2013

Fisher & Paykel Healthcare has reported a record annual profit following strong sales and improved gross margins.

The specialist medical equipment maker's net profit rose to $77.1 million for the year to the end of March, 20% higher than the previous year.

Sales rose 7.7% to more than $556 million, with the bulk of the sales coming from North America and Europe.

Fisher & Paykel Healthcare sells to more than 120 countries.

Chief executive Mike Daniell says growth in its traditional markets was good, and even stronger in the developing world, though off a smaller base.

He says there's been good pickup of its new products and it's gaining more share in new clinical applications for its respiratory technology in particular.

The company will pay a dividend of 7 cents per share.

Shares in the company rose 17 cents to $3.20 on Thursday.