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F&PH's temperature rises

By Duncan Bridgeman

Friday 23rd May 2003

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Fisher & Paykel Healthcare shares gained further ground yesterday after the company reported a net profit of $72.9 million for the March year.

The 17% lift in profit was in line with expectations, pushing Healthcare shares up another 5c to $10.75 at press time yesterday.

Chief executive Michael Daniell said the company was planning a number of
significant new product introductions, including sleeping masks, humidifier systems, breathing circuits and patient warmers.

The result included realised and unrealised foreign exchange gains of $23 million after tax.

Operating revenue for the company's core product range grew 17% in US dollar terms over the previous year.

Mr Daniell said the company expected a continuation of strong US dollar revenue growth.

Fisher & Paykel makes heated humidification products for use in respiratory care and treatment of obstructive sleep apnea (OSA), a condition that stops breathing during sleep.

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