NZ's Fisher & Paykel falls on flagging cost blowout under new US tariff plan

Fisher & Paykel Healthcare

03/02/2025 24:06

(Adds ASX-listed shares)
    ** Shares of Fisher & Paykel Healthcare  FPH.NZ  fall as
much as 8.5% to NZ$34.390, their lowest level since Aug. 23,
2024
    ** ASX-listed shares of co  FPH.AX  drop as much as 8.2% to
A$31.55, their lowest since Oct. 8
    ** Medical equipment maker says its costs would likely
increase in FY26 due to the U.S.'s introduction of new 25%
tariffs on Mexico
    ** Says it manufactures 45% of its volume in Mexico and
nearly 60% of its U.S. volumes are supplied from its Mexico
manufacturing facilities
    ** Co does not see material impact from the tariffs on FY25
profit
    ** As of last close, NZ stock down 2.1% and ASX stock down
1.7% YTD 

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