Fisher & Paykel Healthcare managing director Lewis Gradon. Photo: Supplied / Fisher & Paykel Healthcare
Respiratory equipment manufacturer Fisher & Paykel Healthcare's full-year profit has nearly trebled, rebounding after last year's results were affected by one-offs.
Key numbers for the year ended March compared with a year ago:
- Net profit after tax $377.2m vs $132.6m
- Revenue $2.02b vs $1.74b
- Underlying profit $377.2m vs $264.4m*
- Gross margin 62.9% vs 59.9%
- Full year dividend 42.5 cents per share vs 41.5cps
*The company said the 2024 net profit was adversely affected by three abnormal one-time items, with underlying profit up 6 percent when those items were excluded.
The country's biggest listed company said revenue cracked the $2 billion mark, driven by across-the-board growth in sales of hospital equipment, and masks for treating obstructive sleep apnoea.
Fisher & Paykel Healthcare has been under the spotlight due to United States President Donald Trump's tariffs, as the company has major manufacturing operations in Mexico and New Zealand, while the US is a key market for the company.
It said US tariffs on hospital products sourced from New Zealand would result in a 50-basis point impact on margins, but overall, gross margins would likely improve despite the tariffs.
"Our actions in response to any trade policy developments will be driven by our longstanding approach, which is to mitigate cost increases from any source by identifying and implementing continuous improvements and efficiency gains across all of our business processes," managing director Lewis Gradon said.
The company forecast 2026 full-year revenue to be in the range of $2.15b to $2.25b, and after-tax profit to be in the range of $390 million to $440m.
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