NZ's F&P Healthcare ups earnings guidance
WELLINGTON Aug 27 (Reuters) - New Zealand medical equipment manufacturer Fisher & Paykel Healthcare Ltd. expects a rise of nearly 6 percent in annual profit on better margins and a steady exchange rate, as it reported strong first-half revenue growth on Tuesday.
F&P Healthcare, which makes patient warmers and products to treat breathing disorders, forecast a profit of NZ$90 million to NZ$95 million ($70.3 million to $74.2 million) for the year ended March 31, based on an exchange rate of $0.8000. It had previously forecast a profit range of NZ$85 million to NZ$90 million.
Chief executive Michael Daniell told the annual general meeting the company expected a rise in first-half operating revenue of about 30 percent to NZ$310 million and net profit after tax to be about NZ$43 million dollars. ($1 = NZ$1.28) (Reporting by Gyles Beckford; Editing by Stephen Coates)
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