Low risk, double-digit earnings growth: Fisher & Paykel Healthcare
Portfolio stalwart, Fisher and Paykel Healthcare (ASX:FPH), continues to deliver for investors after announcing another typically strong full-year profit result, up 27% on the prior year. We have long been attracted to FPH’s global growth strategy and were not disappointed as both of the company’s major product groups, hospital/respiratory and acute care and homecare/obstructive sleep apnoea again delivered double-digit revenue and profit growth. We have reduced our weighting slightly on the back of the strong share price appreciation but continue to hold the stock as a core portfolio position given our forecast of relatively low risk, double-digit earnings growth over the medium term.
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