Fisher & Paykel Healthcare has announced a strong first-half performance, with operating revenue increasing by 14% to $NZ1.09 billion and net profit soaring by 39% to $NZ213 million for the six months ending September 30. Fisher & Paykel Healthcare is a medical device company that designs, manufactures, and markets products and systems for use in respiratory care, acute care, and the treatment of obstructive sleep apnea. The company’s products are sold in over 120 countries worldwide.
Hospital product revenue experienced significant growth, climbing 17% to $NZ692.2 million. Hardware sales rose by 21% in constant currency, with consistent strength across consumables despite a less intense respiratory season. Homecare revenue also saw positive momentum, increasing by 10% to $NZ395.9 million, driven by robust demand for the company’s latest obstructive sleep apnea masks.
The company reported an improvement in gross margin, which increased by 110 basis points to 63%. This improvement was attributed to efficiency gains, although the company acknowledged ongoing pressure from US tariffs on hospital products sourced from New Zealand. Research and development investment totalled $NZ114.1 million, representing 10% of revenue. The board has declared an interim dividend of 19¢ per share, up from 18.5¢.
Given the strong results, the group has upgraded its full-year guidance, factoring in favourable exchange rates. It now anticipates FY26 operating revenue to be in the range of $NZ2.17 billion to $NZ2.27 billion, up from the previous estimate of $NZ2.15 billion to $NZ2.25 billion. Net profit is now projected to be between $NZ410 million and $NZ460 million, compared to the prior guidance of $NZ390 million to $NZ440 million. Tariffs are expected to reduce gross margin by approximately 75 basis points for the year.
