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NZ's F&P Healthcare sees flat FY profits, strong NZ$ a headwind
June 10, 2014 / 9:06 PM / 3 years ago

NZ's F&P Healthcare sees flat FY profits, strong NZ$ a headwind

WELLINGTON, June 11 (Reuters) - 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)

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