Fisher & Paykel Healthcare, the New Zealand-based respiratory care business, says it is on track to record profits of up to $NZ360 million ($332 million) next year as it returns to growth.

The company’s share price has had a volatile few years, rising steeply during the COVID-19 pandemic before sliding this time last year when it unveiled a 39 per cent fall in profits to $NZ250 million, missing expectations.