NZ-based Fisher & Paykel Healthcare sinks on weak guidance

Fisher & Paykel Healthcare

19/08/2022 24:45

** Shares of New Zealand-based respiratory products maker
Fisher & Paykel Healthcare Corp Ltd  FPH.NZ  drop as much as
9.7% to NZ$19.110
    ** Stock to mark its sharpest single-day pct decline since
May 2021 if losses hold 
    ** FPH sees operating revenue for H1 2023 at about NZ$670
mln ($418.62 mln), compared with NZ$900 mln reported a year
earlier 
    ** Sees net profit after tax of approximately NZ$85 mln to
NZ$95 mln, compared with NZ$222 mln a year ago
    ** Says customer stock levels rose further in the first
half, which could impact its short-term sales 
    ** Shares hit their lowest since June 17
    ** Stock down 35.4% this year, as of last close, vs a 9.4%
decline in the benchmark S&P/NZX 50 index  .NZ50  
    
($1 = 1.6005 New Zealand dollars)

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))