- Fisher & Paykel Healthcare have upgraded their earnings forecasts for the current year due to the weaker New Zealand Dollar
- Expects a net profit between NZD$245 million and NZD$255 million
- It expects a stronger FY20
Fisher & Paykel Healthcare have upgraded their earnings forecasts for the current year due to the weaker New Zealand Dollar.
The company expects a net profit between NZD$245 million and NZD$255 million. It also expects NZD$255 million in the year through March 2020.
The new guidance is assuming the New Zealand Dollar averages around US$0.64 for the rest of the year.
Previously the company forecast a net profit of NZD$240 million to NZD$250 million based on an exchange rate of US$0.65.
“Our New Zealand dollar results can be influenced by exchange rate movements, and our earnings guidance has benefited from a weakening of the New Zealand dollar,” CEO Lewis Gradon said.
Fisher & Paykel Healthcare is a leading designer, manufacturer and marketer of products and systems for use in respiratory care, acute care, surgery and the treatment of obstructive sleep apnea.
The company’s products are sold in 120 countries worldwide.
This financial year the company hit the billion-dollar club with a record operating revenue of $1.07 billion and Fisher & Paykel is excited for 2020.
“We’ve had a good start to the year and are on track to deliver strong revenue and earnings growth in the 2020 financial year,” Lewis said.
During this first quarter, the company has seen strong growth in its hospital product group.
“We now expect hospital constant currency revenue growth for the 2020 year to be slightly higher than last year’s growth,” Lewis added.
Fisher & Paykel are celebrating 50 years this year and the company aims at improving each year.
“We’re building on the expertise we’ve developed and the lessons we’ve learnt over the last 50 years to carry on improving outcomes for more and more patients over the next 50 years,” Lewis said.