Fisher & Paykel Healthcare Corporation Limited announced its results for the half year ended 30 September 2017. Net profit after tax was NZ$81.3 million, up 4% from the prior comparable period. Operating revenue was NZ$458.4 million, 8% above the first half last year.
“Our first half results are in line with our expectations and reflect consistent momentum across both our product groups,” said Managing Director and CEO, Lewis Gradon.
Operating revenue for the Hospital product group, which includes products used in respiratory, acute and surgical care, was up 11% to a record NZ$262.5 million. Much of this growth was driven by the increasing adoption of Optiflow nasal high flow therapy. Products in the Hospital group now make up 57% of the company’s operating revenue.
The Homecare product group performed well, with operating revenue up 4% to NZ$191.3 million. This group includes products used in the treatment of obstructive sleep apnea and respiratory support in the home. The company’s obstructive sleep apnea masks (OSA) continued to perform well in particular, delivering 8% growth in constant currency.
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