Fisher & Paykel Healthcare hits over 2-year high on FY results, outlook

Fisher & Paykel Healthcare

29/05/2024 02:45

** ASX-listed shares of Fisher & Paykel Healthcare  FPH.AX 
rise as much as 6.7% to A$27.150, their highest since mid-Feb,
2022
    ** Stock top gainer on ASX 200 benchmark index  .AXJO 
    ** NZ shares  FPH.NZ  also rise as much as 7.5% to a more
than 2-year high of NZ$29.730
    ** Medical equipment maker posts 6% rise in FY underlying
NPAT
    ** Sees FY25 NPAT in the range of NZ$310 mln to NZ$360 mln,
and assumes further improvement in gross margin
    ** Sees FY25 operating revenue in the range of NZ$1.9 bln to
NZ$2.0 bln, higher than NZ$1.74 bln in FY24
    ** Citi analysts say FY24 result and FY25 forecast are
in-line with expectations and show FPH is making progress
towards its margins target
    ** Trading volumes on ASX and NZ-listed stocks above 30-day
avg
        ** Both stocks are up more than 25% YTD
  

($1 = 1.6295 New Zealand dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))