A rare riser in yesterday’s tide of red ink was NZ-based Fisher & Paykel Healthcare in the wake of what looks like a solid 2018-19 interim result forecast for the coming year.
The interim dividend was lifted 11% to 9.75 NZ cents a share.
The shares were up 1.8% to $12.50 on the ASX in a market that fell 45 points or around 0.8% after directors forecast a record revenue for 2018-19 and record earnings of well over $NZ 200 million.
The company reported a 20% increase in half-year net profit up to $NZ97.4 and confirmed guidance of full-year 12% increase in revenue, thanks to neo-natal cribs and nose fittings.
That was on a 12% rise in revenues for the half year to $NZ511 million.
However, the company says it is too early to know if this year’s flu season will be as bad in the northern hemisphere. Last year’s strong flu season contributed up to 2 percentage points in revenue growth.
“At current exchange rates we expect full-year operating revenue for the 2019 financial year to be approximately NZ$1.07 billion and net profit after tax to be in the range of approximately NZ$205 to NZ$210,” the company said.
“Overall, results are in line with our expectations for the start of the 2019 financial year,” CEO, Lewis Gradon said in a statement. “We remain on track, with our core product groups delivering a 12% increase in revenue, or 9% in constant currency terms.”
