- Healthcare giant ResMed (RMD) jumped over 9 per cent in early trade after disclosing significant profit and revenue spikes in FY21’s first quarter
- The ventilator maker saw its revenue jump 10 per cent to hit US$751.9 million (about A$1.07 billion) in the September quarter
- The ASX 200-lister’s net operating profit also rose, up 27 per cent to US$216.9 million (roughly A$308.34 million)
- Thanks to the quarter’s robust results, ResMed was able to pay out US$56 million (around A$79.61 million) in dividends to investors
- Today, Resmed’s early gains — combined with a staggering 19 per cent spike from fellow ASX 200-lister AMP — took the market higher
- The benchmark ASX 200 is up 0.31 per cent, while ResMed shares are trading 9.21 per cent higher for $27.86
Healthcare giant ResMed (RMD) jumped over 9 per cent in early trade after disclosing significant profit and revenue spikes in FY21’s first quarter.
The ventilator maker saw its revenue jump 10 per cent to hit US$751.9 million (about A$1.07 billion) in the September quarter. The ASX 200-lister’s net operating profit also rose, up 27 per cent to US$216.9 million (roughly A$308.34 million).
As second and third waves of COVID-19 hit the globe, demand for the dual-listed medtech’s products continued to spike.
“During the quarter, we continued to support the global COVID-19 pandemic response, providing ventilators, masks, and circuits to countries in need around the world,” said Mick Farrell, the ResMed CEO.
In addition to its ventilators and masks, ResMed also makes sleep health products like CPAP machines. The company also creates technology to prevent conditions like snoring and insomnia.
Thanks to the September quarter’s robust results, ResMed was able to pay out US$56 million (around A$79.61 million) in dividends to investors. Breaking it down, that equates to around US$0.39 (approximately A$0.55) per share.
The medtech giant ended September with over US$421 million (about A$598.49 million) in the bank — down on the US$463 million (roughly A$658.19 million) recorded at FY20’s close.
Today, Resmed’s early gains — combined with a staggering 19 per cent spike from fellow ASX 200-lister AMP — took the market higher.
The benchmark ASX 200 is up 0.31 per cent, while ResMed shares are trading 9.21 per cent higher for $27.86 at 11:34 am AEDT.