Fisher & Paykel Healthcare has posted a record $169.2million profit for its full year, and signalled its target of attaining $1billion in revenue for the 2018 financial year. He said the $20.7million litigation costs - more than $5million higher than expected - had ``substantially impacted'' on the company's earnings. ``The higher than expected litigation costs are the key reason for lower than expected full-year net profit after tax,'' he said. Mrs Howe said the $20.7million litigation costs suggested underlying business growth was even stronger than reported. On the $20.7million litigation expenses, Mr Gradon said it was a ``significant cost'' and the litigation was not entered into lightly.

Source: Otago Daily Times May 22, 2017 18:11 UTC