Fisher and Paykel raises earnings guidance for 2013

Medical Company Financials

Fisher and Paykel has raised its earnings guidance for the financial year ending March 31st 2014 during its annual shareholders' meeting.

The medical technology firm now expects its net profit after tax to be in the range of NZ$90 million to NZ$95 million (45 to 47.5 million pounds), up from the NZ$85 million to NZ$90 million guidance announced in May 2013.

“Fisher and Paykel has increased its earnings guidance for 2013 based on its stronger-than-expected performance so far this year.“

Growth so far this year has been better than expected for Fisher and Paykel, with product demand and sales proving to be extremely strong.

It expects first-half revenue to grow approximately 15 percent year on year in constant currency terms, with full year operating revenue to be in the range of NZ$625 million to NZ$645 million.

This would represent a further increase on the record-breaking annual total of NZ$556.3 million the company achieved last year.

Michael Daniell, Fisher and Paykel Healthcare's chief executive officer, said: "There is a global trend to carefully manage growth in healthcare expenditure, which fits very well with our strategy of offering innovative medical devices that can help to reduce the overall healthcare costs per patient."

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