F&P Healthcare tracks ‘surge’

Growth in homecare products was marginal, but growth in hospital products was significant
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Tuesday, December 1, 2020

LAGUNA HILLS, Calif. – Fisher & Paykel Healthcare reported operating revenue of $226.2 million for the first half of the 2021 financial year for its homecare product group, a 5% increase compared to the same period in the previous financial year. 

“Since the pandemic started, many sleep clinics have been closed, resulting in a reduction in new patient diagnoses,” said Lewis Gradon, managing director and CEO. “Our F&P Evora and F&P Vitera masks for OSA are great products that have yet to reach their full potential.” 

Overall, F&P reported operating revenue of $910.2 million for the first half of the 2021 financial year, a 59% increase compared to the same period in the previous financial year. Net profit after tax was $225.5 million, an 86% increase. 

The company reported operating revenue of $681 million for its hospital product group, a 93% increase. Hospital products made up three-quarters of the company’s total operating revenue. 

“Sales in hardware and consumables continued to track surges in COVID-19 globally, as the virus moved across Europe, North America, South America and South Asia,” Gradon said. 

Based on certain assumptions, including sustained stronger hospital hardware sales, F&P expects full-year operating revenue to be about $1.72 billion and net profit after tax to be about $400 million to $415 million for the full financial year.