24 Nov 2013

Fisher & Paykel posts record interim profit

7:00 am on 24 November 2013

Fisher & Paykel Healthcare has reported a record first-half profit following strong sales growth in both of its major product groups.

The medical device maker's profit rose 34% to $44.5 million for the six months to September, compared with the same period in 2012.

Operating profit rose 40% to nearly $67 million as profit margins rose.

Sales of its respiratory and acute care products grew 15% to $164 million, while sales of its obstructive sleep apnea products also rose 15% to $131 million.

Fisher & Paykel Healthcare chief executive Michael Daniell says the company is making good progress with getting clinicians from around the world to use the company's products.

The company is forecasting full-year net profit to be in the range of $90 million to $95 million, with an interim dividend of 5.4 cents per share.