F&P Healthcare lowers guidance on strong NZD, plans to expand manufacturing

Thu, 24 Aug 2017

By Rebecca Howard Aug. 24 (BusinessDesk) - Fisher & Paykel Healthcare lowered full year earnings guidance due to the strong New Zealand dollar and patent litigation costs, and separately announced plans to expand manufacturing to a third country. In May, the medical devices maker said it expected operating revenue to be about $1 billion and net profit in a range of $180 million-to-$190 million, based on the New Zealand dollar trading at 69 US cents. However, while trading has been in-line with expectations for the first five months of the...

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