FPH’s Shares Uplifted On ASX After Reporting 20% Increase In Net Profit For H1 2019
On 26 November 2018, Fisher and Paykel Healthcare Corporation Ltd (ASX: FPH) announced its H1 2019 results, following which the share price of the company increased by 1.221 percent. The company reported that its Net profit after tax increased by 20 percent to NZ$97.4 million in H1 2019 as compared to the H1 2018. Further, the operating revenue of the company increased by 12 percent to NZ$511.3 in H1 2019 as compared to the previous corresponding period. In the first half of FY 2019, the Gross margin of the company increased by 77 basis points to 66.8 percent mainly due to favorable product mix and Mexico manufacturing. In the first half, the investment in R&D was NZ$45.7 million which was 9 percent of the revenue. As per the company’s Managing Director and CEO Mr. Lewis Gradon, the company is on track, with its core product groups delivering a 12 percent increase in revenue and the company’s new F&P 950 heated humidification system for neonates is performing well in New Zealand and Australia. Further, the company is looking forward to the release of the 950 in Europe next year. To be Continued.... Read the full article