F&P upgrades guidance

 - 
Thursday, August 29, 2019

IRVINE, Calif. – Fisher & Paykel Healthcare has upgraded its guidance for the financial year ending March 31, 2020, to full operating revenue of about $1.17 billion and net profit after tax of about $245 million to $255 million.

The company expects operating revenue for the first half of the 2020 financial year ending Sept. 30, 2019, to be about NZ$560 million and net profit after tax to be about NZ$120 million.

“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,” said Lewis Gradon, managing director and CEO.

Previously in May, F&P provided guidance for operating revenue of about $1.15 billion and net profit after tax of about $240 million to $250 million.

The upgraded guidance assumes an NZ:US exchange rate of about 64 cents for the balance of the year. The prior guidance was based on an exchange rate of 65 cents.

“Our New Zealand dollar results can be influenced by exchange rate movements and our earnings guidance has benefitted from a weakening of the New Zealand dollar,” Gradon said.

F&P made the announcement at its annual shareholders meeting on Aug. 28.