New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

Fisher & Paykel Healthcare Corp / Equity Bottom-Up

<ul><li>F&amp;P Healthcare's (FPH) 1H24 result had few surprises relative to our expectations.</li><li>The key positives of strong homecare revenue growth and better-than-expected gross margins slightly outweighed slower than expected new apps consumables revenue growth.</li><li>Looking ahead, FPH's revenue guidance (and mix commentary) implies ~+10% new apps consumables growth in FY24: a sharp slowdown from history. </li></ul>

F&amp;P Healthcare's (FPH) 1H24 result had few surprises relative to our expectations.The key positives of strong homecare revenue growth and better-than-expected gross margins slightly outweighed slower than expected new apps consumables revenue growth.Looking ahead, FPH's revenue guidance (and mix commentary) implies ~+10% new apps consumables growth in FY24: a sharp slowdown from history. 

F&P Healthcare - 1H24 Result — New Apps Slowing?