Fisher & Paykel Healthcare reports strong first half growth, raises full-year guidance

Fisher & Paykel Healthcare reported a 39% increase in net profit after tax to $213.0m for the first half of the 2026 financial year, with operating revenue climbing 14% to $1.09bn. In constant currency, net profit after tax rose 28% and operating revenue increased 12%. The company's managing director, Lewis Gradon, highlighted strong performance in the hospital consumables portfolio and homecare, particularly with its latest range of masks for obstructive sleep apnea.

The hospital product group saw a 17% revenue increase to $692.2m (15% in constant currency), with hardware sales up 21% in constant currency and new applications consumables revenue increasing 16% in constant currency. The homecare product group's revenue rose 10% to $395.9m (8% in constant currency). Gross margin improved by 110 basis points to 63% despite the impact of US tariffs.

The company updated its full-year guidance, now expecting operating revenue between $2.17bn and $2.27bn and net profit after tax between $410m and $460m, at 31 October exchange rates. An interim dividend of 19.0 cents per ordinary share was approved, an increase from 18.5 cents per share in the prior year.