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FPH - Fisher & Paykel Healthcare News Story

NZD33.8 -0.1  -0.3%

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Sector
Healthcare
Size
Large Cap
Market Cap £10.03bn
Enterprise Value £10.01bn
Revenue £825.8m
Position in Universe 31st / 1911

NZ's Fisher & Paykel Healthcare upgrades guidance on weaker local currency

Thu 23rd August, 2018 2:50am
Aug 23 (Reuters) - New Zealand medical device firm Fisher &
Paykel Healthcare       FPH.NZ  on Thursday raised its full-year
profit guidance by more than two percent as it benefited from a
weakening in the New Zealand dollar.
    The firm, which generates a majority of its revenue outside
New Zealand, now expected annual net profit of about NZ$215
million ($142.67 million), higher than its previous guidance of
about NZ$210 million. 
    "This year, the New Zealand dollar has weakened against a
number of other currencies, which is the major contributor to
the upgrade in our earnings guidance," Managing Director and CEO
Lewis Gradon said. 
     The New Zealand dollar  NZD=D3  has fallen more than 5
percent so far in 2018.   
    The company also upgraded its operating revenue guidance to
about NZ$1.07 billion, compared to a previous forecast of about
NZ$1.05 billion.
($1 = 1.5069 New Zealand dollars)

 (Reporting by Aditya Soni in Bengaluru
Editing by Darren Schuettler)
 ((Aditya.Soni@thomsonreuters.com; +91 80 6749 1783; Reuters
Messaging: Aditya.Soni.thomsonreuters.com@reuters.net))
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