NZ's Fisher & Paykel Healthcare eyes worst day in nearly 10 months on revenue outlook

Fisher & Paykel Healthcare

22/03/2022 22:36

** Respiratory products maker's shares  FPH.NZ  slump as
much as 7.9% to NZ$25.70, set for worst session since May 27,
2021 if losses hold
    ** Company expects FY operating revenue between NZ$1.68 bln
($1.17 bln) and NZ$1.70 bln  urn:newsml:reuters.com:*:nFWN2VP107
    ** FPH posted 2021 operating revenue of NZ$1.97 bln
    ** Company says revenue outlook considers "increasing
prevalence of the Omicron variant over the last two months and
its associated lower respiratory intervention requirements"
    ** FPH adds freight rates remain elevated and for 2022 are
expected to impact company's long-term gross margin target of
65% by about 250 basis points
    ** Stock hits lowest level since March 9
    ** As of last close, FPH down 14.8% so far this year

 ($1 = 1.4355 New Zealand dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))