Fisher and Paykel reports record-breaking performance in 2012/13

Fisher and Paykel has announced its financial results for the business year ending on March 31st 2013, during which it achieved a record performance.

The company's net profit after tax came to a benchmark total of NZ$77.1 million (41.39 million pounds), up by 20 percent on last year, while operating revenue rose by eight percent to a best-ever figure of NZ$556.3 million.

This profit total exceeded the NZ$75 million guidance outlined in February 2013, which itself was an increase on the previous forecast of NZ$69 million to NZ$72 million.

During the second half of the year, the firm's respiratory and acute care and obstructive sleep apnoea product groups both experienced double-digit revenue increases, with the launch of the Icon Plus flow generator range highlighted as a particular success.

Operating revenue for the 2013/14 business year is expected to be in the range of NZ$610 million to NZ$630 million, while profits are forecast to fall between NZ$85 million to NZ$90 million.

Fisher and Paykel Healthcare's chief executive officer Michael Daniell said: "We expect our underlying revenue growth to continue to be robust this year, driven by a broad range of new products and applications."