Fisher and Paykel posts record figures for 2010-11

Fisher and Paykel has published its financial results for the 2010-11 fiscal year, during which it generated record-breaking annual results.

The company's operating revenue for the 12 months ending on March 31st 2011 came to NZ$506.1 million (250.9 million pounds), establishing a new benchmark despite the unfavourable impact of exchange rate conditions.

According to the firm's report, the introduction of new products and clinical applications has helped to drive improved performance for its respiratory and acute care and obstructive sleep apnoea divisions.

Fisher and Paykel chief executive officer Michael Daniell expressed confidence that the positive trends seen in recent months will underpin another year of strong growth in 2011-12.

"We are planning for our rate of revenue growth to exceed expense growth and are expecting better than 20 percent constant currency net profit after tax growth," he said.

The company has been operating in the respiratory care market since 1971 and now sells its products to clients in more than 120 countries.