24 Aug 2009

Growth in demand for healthcare products

7:36 am on 24 August 2009

Medical equipment maker Fisher and Paykel Healthcare says it has taken steps to cope with a rising New Zealand dollar, as it continues to enjoy strong offshore demand for its products.

At its annual meeting on Friday, the company's chief executive, Mike Daniel told 200 shareholders it expects its full year profit to rise about 25% to between $75 million and $80 million.

Mr Daniel says trading in the year so far has been strong and sales of the company's sleep breathing products has grown.

The company has expanded its team in Japan in the last few months, and is selling directly to some customers there.

Mr Daniel says the company has currency hedging in place and the rising dollar should have no effect on underlying growth, but does potentially affect earnings growth.