Fisher & Paykel Healthcare has raised its profit guidance for the year ending March 2014 because of a lower New Zealand dollar and double-digit sales growth in constant currency terms.
Chief executive Mike Daniell told the annual meeting of shareholders that, assuming an exchange rate of 80 US cents, he expects full-year profit will be between $90 - $95 million.
That would be an increase of between 16% - 23% on the $77.1 million the healthcare products manufacturer reported for the 12 months to the end of March this year.
In May, the company said that assuming the New Zealand dollar traded between 80 - 85 US cents, annual profit would be between $85 - 90 million.
Mr Daniell said the company's growth so far this financial year has been robust.