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Marlborough Express - 2021-11-26

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F & P Healthcare profit slips 2pc

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Fisher & Paykel Healthcare posted a 2 per cent drop in first-half profit as demand slowed for its breathing aids used to treat Covid-19. Net profit fell to $221.8 million in the six months to September 30, from $225.5m last year. Revenue slipped 1 per cent to $900m while expenses increased 5 per cent to $265.3m. Fisher & Paykel Healthcare has experienced unprecedented demand for its breathing devices since early 2020 as hospitals stocked up on the machines and accessories to treat patients with the coronavirus. However, growth has slowed as hospital admissions reduce and demand for stock stabilises. ‘‘The first half of the last financial year was a period of extraordinary demand during the initial surges of Covid-19,’’ said managing director Lewis Gradon. Due to uncertainty about the impact of Covid-19 in the future, the company would not provide revenue or earnings guidance for the remainder of the year, he said. In the first half, revenue for the company’s hospital division, which includes products used in acute and chronic respiratory care and surgery, fell 2 per cent to $670m. Shares in F & P Healthcare, the largest company listed on the NZX, rose 2.5 per cent to $32.99 in midday trading yesterday. Dallas Gurney, the former Newstalk ZB boss who is now crafting its newest challenger, calls New Zealand ‘‘Aotearoa’’ and talks about ‘‘modern perspectives’’. He has been tasked with creating a brand-new news and talk radio station, after Mediaworks’ new boss, Cam Wallace, effectively mothballed Magic Talk. The station was mainly known for its provocative daytime hosts Sean Plunket and Peter Williams, broadcasting veterans who rallied against ‘‘cancel culture’’, and were accused of allowing blatant racism and misinformation on air. Yesterday, Mediaworks confirmed its weekday line-up for the new talk station and its name – Today FM. A list of younger and well-known broadcasters have been confirmed for the station, led by current Newshub political editor Tova O’brien. O’brien will take the breakfast show, following from First Light with Rachel Smalley. Former political editor and AM Show host Duncan Garner is on 9am to midday,

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