F&P Healthcare raises guidance 

AUCKLAND, New Zealand – Fisher & Paykel Healthcare has raised its guidance for the financial year ending March 31, 2024, to $1.73 billion in operating revenue and $260 million to $265 million in net profit after tax. The guidance is slightly up from $1.7 billion in operating revenue and $250 million to $260 million in net profit after tax. “In OSA masks, we have continued to see strong performance from our Evora Full mask,” said Lewis Gradon, managing director and CEO. “We have received positive feedback on our revolutionary F&P Solo mask after the recent release in early markets, and we look forward to its introduction in more countries in the coming months.” F&P Healthcare also announced that it will soon start a scheduled valuation of its properties in East Tāmaki and Karaka, Auckland, and in Tijuana, Mexico. “In preliminary discussions we have been advised that the higher interest rate environment and current zoning status of our land in Karaka will likely have an adverse impact on the Karaka property valuation,” Gradon said. “Any reduction in the value of the Karaka land would be recognized as a non-cash accounting adjustment in the income statement and will impact our reported net profit after tax for the year. The quantum of any potential reduction in value is currently unknown, and our FY24 earnings guidance excludes this non-cash effect. Asset valuations will be undertaken by independent valuers, are subject to final audit and will be confirmed in the financial results for the year ending March 31, 2024, expected to be announced on May 29, 2024.”