NZ's F&P Healthcare sees higher year profit on sales

WELLINGTON Feb 20 (Reuters) - New Zealand medical equipment maker Fisher and Paykel Healthcare Ltd said on Wednesday it expected a lift in its full-year profit on better sales growth and margins.

The company said it expected to post a profit of the year to March 31 of around NZ$75 million ($63.6 million), assuming current exchange rates.

This compared with previous guidance of NZ$69 million to NZ$72 million, and a profit last year of NZ$64.1 million.

"Sales growth during the second half has been very encouraging, particularly for our respiratory consumables," said chief executive Michael Daniell.

"Operating margin has also continued to improve as a result of new products, operating efficiency gains and manufacturing at our Mexico facility."

Shares in F&P Healthcare last traded down 0.9 percent at NZ$2.32. (Gyles Beckford)