Karaka land value hits Fisher & Paykel profit

Fisher & Paykel's hospital segment revenue increased, with consumables such as masks accounting for 90% of revenue. (Image: Fisher & Paykel)

Rebecca Stevenson

Wed, 29 May 2024

Fisher & Paykel Healthcare’s profit has taken a $98 million hit on the value of its Karaka property. The New Zealand Exchange-listed (NZX) company reported its full-year result for the year ended March 31 on Wednesday and said net profit after tax (Npat) was $132.6m due to three abnormal items, including the revaluation of its future Karaka campus land. The manufacturer purchased land at Karaka for $275m and expected to develop the site over the next 30 to 40 years. The land's value had been negatively aff...

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