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)
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