Strong Revenue Growth
Operating revenue of $2.3 billion, up 14% on prior year (12% in constant currency). FY'27 guidance: $2.45–$2.57 billion (approx. 6%–11% growth).
Material Net Profit Growth
Net profit after tax $468.5 million, up 24% on prior year (28% in constant currency). FY'27 NPAT guidance: $500–$550 million.
Hospital Segment Outperformance
Hospital operating revenue $1.5 billion, up 18% (15% constant currency). Hospital hardware revenue up ~27% in constant currency; new applications consumables up 18% (16% CC); Hospital consumables overall up 14% CC.
Homecare Growth and Product Momentum
Homecare revenue $802.7 million, up 8% (7% CC). OSA mask revenue up 7% (5% CC) driven by new Solo and Nova nasal/pillows ranges; Homecare hardware also showed growth.
Margin Expansion
Gross margin 63.7%, an increase of 122 basis points in constant currency versus prior year. Operating margin 27.6%, up 277 basis points in constant currency.
Strong Cash Generation
Operating cash flow $663 million, up 21% year-on-year. Net cash $401 million at 31 March 2026 and gearing of -22.8%.
Capital Investment for Capacity
Capital expenditure (including intangibles) $195 million (up from $103 million), including $132 million on a new building (East Tamaki) and payment on Karaka land; FY'27 capex guidance ~ $230 million.
Shareholder Returns Increased
Total dividends declared $0.52 per share, up 22% on prior year; final dividend $0.33 per share (65% payout of full year profit).