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F&P Healthcare forecasts 25% gain in 2010 profit on sales growth
Fisher & Paykel Healthcare forecast earnings growth in 2010 of 25% as higher-than-expected sales make up for the impact of a stronger kiwi dollar on overseas sales. Net profit will be $75 million to $80 million in the year ending March 31, chief executive Michael Daniell told shareholders at their annual meeting today. Trading so far in the first half has been better than was expected in May, when the company previously gave profit guidance. “Demand has been strong, and we have seen accelerating growth, as a result of the introduction of new products, in the OSA product group,” Daniell said, referring to the company’s obstructive sleep apnea products. F&P Healthcare shares rose 2.5% to $3.33 and have climbed 11% in the past month.
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