ResMed reports strong sales, margins growth

Sleep technology manufacturer, ResMed (ASX: RMD) has posted third quarter revenue to the end of March up 15 per cent on a constant currency basis to $662 million.

Expanding device sales and the inclusion of revenue from the recently-purchases SaaS businesses helped boost margins by one per cent, and net profit by 15 per cent.

CEO Mick Farrell said: “Our expanding mask portfolio continues to drive share growth across all geographies and we have a solid product pipeline to support future growth, including the recent launch of the AirFit P30i.

“We delivered operating leverage this quarter, even as we execute on our long-term strategy to provide innovative products, software and solutions.”

Sydney-based ResMed pioneered the field of using continuous positive air pressure (CPAP) to treat obstructive sleep apnea.

The AirFit is its first ‘top of the head mounted’ night CPAP mask, adding to its recent innovations connecting home devices and medical staff vis the cloud.

During the quarter software as a service sales were up 101 per cent.

Farrell said the company’s growth trajectory would see it improve the lives of 250 million people by 2025.

The company’s shares jumped 9.9 per cent to $16.26 following the profit announcement.

Picture: ResMed AirFit P30i

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