NZ's Fisher & Paykel Healthcare eyes worst day in 2 years on bleak FY results

Fisher & Paykel Healthcare

26/05/2023 05:49

(Updates with movement on co's ASX-listed shares)
    ** Shares of Fisher & Paykel Healthcare Corp  FPH.NZ  dip as
much as 10.3% to NZ$23.00
    ** Co's ASX-listed shares  FPH.AX  lost as much as 7.3% to
A$22.25, and was among the top losers on the ASX 200
    ** Stock posts biggest intraday pct. loss since May 27, 2021
    ** The respiratory products maker posts 34% drop in FY net
profit after tax to NZ$250.3 mln ($158.79 mln)
    ** Total operating revenue for FY23 at NZ$1.58 bln, down 6%
    ** Approves final dividend of 23.0 NZ cents per share for
second half of the year
    ** Company sees FY24 operating revenue of about NZ$1.70 bln
    ** It expects gross margin improvement of about 200 basis
points in constant currency for FY24
    ** Shares hit their lowest level since Jan. 4
    ** FPH stock up 13.5% YTD, as of last close


($1 = 1.5763 New Zealand dollars)

 (Reporting by Navya Mittal and Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))