Friday 2nd July 2004 |
Text too small? |
While the company is no longer on that exchange, the chart clearly shows the change in fortune since the gloomy days of early 2002.
Part of Healthcare's success stems from it sticking closely to its core humidification technology throughout, ignoring the temptation to diversify into areas where it has no expertise.
The company makes heated humidification products for use in respiratory care and treatment of obstructive sleep apnea (OSA), a condition that stops breathing during sleep.
Most analysts now believe F&P has superior asset efficiency to that of its peers, namely Australian-based OSA operator ResMed and US giant Repironics.
First NZ Capital has upgraded its 2005 full-year revenue forecasts from $US151.8 million to $US155.6 million, based on its belief that earlier company guidance was too conservative. It has lifted its net profit forecast range from $63 million to $64.7 million and its 12-month price target from $12.53 to $13.70.
While F&P Healthcare's March year net profit fell 25% to $54.7 million, the figure came in slightly ahead of analyst forecasts.
First NZ Capital is bullish about the growth potential of the company's warmers and neo-natal division, which while a relatively small part of Healthcare's business had the potential to put on 20-30% over the short to medium term.
Other positives include further potential dual supplier relationships, a share split (to be voted on at the annual meeting next month), continuation of the on-market buy-back and the potential to increase the dividend payout to 100%.
No comments yet
Kiwi Property launches Green Bond offer
TEM - Transaction in Own Shares
December 2nd Morning Report
MWE - Intention to De-list from the NZX Main Board
KMD Brands announces Release of Climate-Related Disclosure
Rua Bioscience expands product range in New Zealand
SPG - HY25 Interim Results
PaySauce FY25 Half Year Result and Interim Report
Synlait releases Integrated Climate Report
KORELLA MINE ADVANTAGED BY COMPLETION OF MAJOR ROAD RESEAL