ResMed lifts annual profit
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Sleep disorder equipment supplier ResMed's annual profit is up 12 per cent due to stronger revenue in the United States.
The California-based company posted a net profit of $254.9 million in the year to June 30, up from $227 million in the previous year.
Profit in the final three months of the financial year was up 31 per cent from the previous corresponding period to $76.8 million.
ResMed said revenue from its Americas operations increased by 13 per cent in the final quarter of the financial year, while revenue in the remainder of the business increased by three per cent.
ResMed, which makes a range of sleep masks which improve breathing for people who snore or have sleep apnoea, is listed on the Australian Securities Exchange (ASX) and the New York Stock Exchange.
It has operations in more than 70 countries.