Full-year guidance lifted a second time as demand for new breathing masks helps grow sales and margins widen.

The strongest sales growth from respiratory and acute care division. | Beats guidance.

The Auckland-based manufacturer expects to post an annual net profit of between $65 million and $69 million.

Fisher & Paykel Healthcare, which makes respirators and sleep apnea products, reports record annual sales while profit growth, excluding a year-earlier tax charge, stalls as margins contract.

Fisher & Paykel Healthcare has reported a better than expected annual net profit of $71.6 million, with strong product demand and favourable forex hedging lifting the result by 15% over last year.

While it previously forecast that it would reach a net profit of between $65 and $70 million, that was assuming a US74c exchange rate, when the average was actually just under the 72c mark.