Fisher & Paykel Healthcare Corporation Limited (ASX:FPH) has announced a record net profit after tax of NZ$143.4 million for the year ended 31 March 2016.
The result is a 27 percent increase over the prior year, and exceeds the company’s expectations of between NZ$135 million and NZ$145 million.
The result has been attributed in part to strong uptake of its Optiflow™ nasal high flow therapy products and obstructive sleep apnea masks.
Gross margin increased by 284 basis points for the period, due to a favourable product mix and an increase in volume from the company’s Mexico manufacturing facility.
The company intends on paying a dividend of 10.0 cents per share in July and is forecasting a net profit of up to NZ$170 million for FY17.