Fisher & Paykel Healthcare Ltd, a leading medical equipment maker of New Zealand, performed well during the first half of the current financial year, reporting 31 per cent rise in its net profit in line with its earlier projections made in August.

However, the firm declined its full year forecasts from NZ$65 million to NZ$70 million due to strong position of New Zealand dollar.

The firm, which manufactures respiratory humidifiers for treating sleep disorders, made a net profit of $27.6 million till September 30 as compared to NZ$28.3 million made in the corresponding period last year.

Chief Executive Michael Daniell, added, "We expect underlying growth to increase substantially in the second half, with accelerating growth in respiratory product demand."

Daniell hoped robust demand of breathing devices during the remaining period of current fiscal. It would start selling new devices very soon and its new plant at Mexico would also begin production during the second half.

Meanwhile, the company kept its dividend intact at 5.4 cents a share for the shareholders. Stocks in the firm closed at NZ$3.05 on Wednesday.