WELLINGTON, June 11 New Zealand medical
equipment manufacturer Fisher & Paykel Healthcare on
Wednesday said it expected full-year net profits to remain flat
this year, while adding that a strong domestic currency would
create headwinds to operating profits.
The company reaffirmed that it expected net profit after tax
to come in around NZ$97 million ($82.66 million) in the year to
March 2015, based on an expected New Zealand dollar exchange
rate of $0.8600.
This compared with NZ$97.1 million in net profit for the
year ended March 31, 2014.
It also said that it expected operating revenues of around
NZ$640 million, and that it expected a "headwind" of around
NZ$32 million if the domestic currency remained around
historically strong levels.
F&P Healthcare, which makes products to treat breathing
disorders, earns roughly half of its operating revenue in U.S.
dollars, and around 25 percent in euros.
($1 = 1.1734 New Zealand Dollars)
(Reporting by Gyles Beckford; Editing by Robin Pomeroy)