Fisher & Paykel Healthcare profits up 37% | NZ Market Update

  • Jun 29, 2020 NZST
  • Team Kalkine

Fisher & Paykel Healthcare – New Zealand's most valuable firm – saw its market value jump to more than $19 billion on the NZX after posting a record profit on the back of the coronavirus pandemic.The company posted a 37 per cent rise in its annual profit to $287 million for the year to the end of March, with revenues from the sales of its breathing aids rising 18 per cent to $1.26b.Fisher & Paykel Healthcare makes a range of non-invasive breathing aids and masks that are designed to be used in hospitals and also at home.The company is New Zealand's most valuable firm, with a market value of $18.75b.

Kiwi brand Treasures nappies is shutting up after more than 40 years, saying it can no longer compete with low-priced imports.The company will close down its factory in Te Rapa, in Hamilton. In a social media post, following concerted investment, Treasures said, "We can no longer cope with low-cost imports as the only local manufacturer."The company had been in business since 1976 and its products will continue to be available while stocks last.

Attempts by Facebook to stiffen up on hate substance have failed to resolute advertiser defections, with Starbucks, Levi's, Verizon and Smirnoff and Baileys maker Diageo the most recent to join a 30-day boycott. As per the to the Wall Street Journal, Starbucks was Facebook's sixth largest advertiser in 2019, payingclose to a figure of US$94.86m on the social network. Sunday saw Coca-Cola pull all advertising from the social media giant. Later Facebook shares crashed 8.3 per cent on the same day, erasing $US56b from the company's market value and wiping $7.2b off founder and CEO Mark Zuckerberg's personal net worth.

#FisherPaykel #Kiwi #Facebook #NZ #Kalkine


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