Growth was off for F&P Healthcare’s masks

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Thursday, May 31, 2018

IRVINE, Calif. – Fisher & Paykel Healthcare reported operating revenue grew 10% to a record NZD 980.8 million, or 9% in constant currency terms, for fiscal year 2018. Split up, that’s 13% constant currency growth in the company’s hospital product group and 4% growth in its homecare product group. F&P reported that its operating profit grew 12% to NZD 269.8 million and its net profit after tax few 12% to NZD 190.2 million in FY 2018 vs. 2017. In the homecare product group, OSA mask constant currency revenue growth was 5% for the first half of FY2018, and 2% for the second half. “This is lower growth than we have experienced over the last few years as competitors introduced new masks to market,” said Lewis Gradon, managing director and CEO. F&P says it plans to expand its range of masks later this year. OSA flow generator revenue declined 8% for the full year, but it saw 10% growth in constant currency terms for the second half of the year.