In what will be one of the most positive and anticipated earnings announcements of the current New Zealand reporting season Fisher & Paykel Healthcare [FPH.NZ]is set to release their results for the 2009 half year to 30 Sept 2008, this coming 10.00 am (NZ Time) Thursday, 20 November 2008-Live Webcast
It is one listed New Zealand company which is set to increase profit and sales for the year because of strong demand for its products and a stronger US dollar.
I have been buying this stock as it dropped and recently bought 3000 at $2.35, taking my total holding to 5000, and I am kicking myself for not buying more.
It is one of only a handful of stocks to actually increase in price over the last few months as its quality has shone among the dross.
The main focus for me on Thursday wont be the currency advantage that they had over last few months of the quarter but the increase in sales, and there will be an increase.
New innovative products have been introduced since last reporting and it will be interesting to see how well they have done since.
In relation to the exchange rate, the company forecast a profit of $86 million for the year to March 31 2009 at its annual meeting on August 22. This is based on a US dollar exchange rate of 72c for the rest of the financial year.
This morning November 2008 the Kiwi buys US 55.76c
Every cent movement down of the New Zealand dollar/US cross means an approximate NZ$2.5 million profit to Fisher's bottom line.
Disclosure: I own FPH shares
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c Share Investor 2008