- Shares in Fisher & Paykel Healthcare (FPH) were down as much as 9.24 per cent today despite the company posting a record full-year result
- For the period ending March 31, the company reported operating revenue of NZ$1.97 billion (around A$1.85 billion)
- This is up 56 per cent from the prior corresponding period (pcp)
- Net profit was also up 82 per cent over the pcp to NZ$524 million (around A$493 million)
- With the ongoing uncertainty surrounding COVID-19, vaccinations and lockdowns, Fisher & Paykel has not provided guidance for FY22
- However the company will continue to advance manufacturing capacity to hold high levels of inventory to ensure potential surges can be met
- Shares in Fisher & Paykel are down 7.20 per cent, trading at $27.58
Shares in Fisher & Paykel Healthcare (FPH) were down as much as 9.24 per cent today despite the company posting a record full-year result.
For the year ending March 31, 2021, the company reported operating revenue of NZ$1.97 billion (around A$1.85 billion), up 56 per cent from the prior corresponding period (pcp).
Net profit was also up 82 per cent over the pcp to NZ$524 million (around A$493 million).
Revenue for its hospital product group was up 87 per cent to NZ$1.5 billion (roughly A$1.4 billion) with hospital products making up 76 per cent of Fisher & Paykel’s operating revenue.
CEO and Managing Director Lewis Gradon commented: “The unprecedented result was driven by our hospital product group which includes Optiflow and Airvo systems used to deliver nasal high flow therapy.
“Sales of our hospital hardware and consumables have continued to track COVID-19 hospitalisation surges in countries around the world.”
With the ongoing uncertainty surrounding COVID-19, vaccinations and lockdowns, Fisher & Paykel has not provided guidance for FY22.
However, the company will continue to advance manufacturing capacity to hold high levels of inventory to ensure potential surges can be met.
“We expect our hospital and homeware revenue for FY22 to be impacted by the number of COVID-19 related hospitalisations around the world,” Lewis said.
“It is unclear at this stage when and if other respiratory hospitalisations and surgical procedures will return to pre-COVID levels, or whether countries will increase their investment in healthcare infrastructure.”
Shares in Fisher & Paykel are down 7.20 per cent, trading at $27.58 at 12:31 pm AEST.