Ann: Half Yearly Report and Accounts, page-13

I think the correct response would have been that they released a similar report during their trading update at the recent AGM and the share price went up @TimtamTom

I have been a long term shareholder of FPH when the share price was in the mid-teens and intend to hold this company to hold for many more years. This is a company that has fortunately/unfortunately over-earned in the past two years due to Covid. What would have taken many many years for their products to penetrate hospitals around the world has been fast-forwarded in this Covid season. Their instruction manuals and training videos are now translated in languages all around the world.

This company is so much more than a company to manage Covid-19. There is a growing body of literature and shift towards non-invasive ventilation / oxygen therapy for a vast myriad of medical conditions, ESPECIALLY in the Asia-Pacific region (as evidenced in the breakdown of earnings). This will bode well for future earnings. I have been particularly impressed that the growth in consumables have been able to cycle through the high earning periods pcp.

Also, why would a company announce plans to invest in purchasing land and buildings to facilitate future growth in their core products if they don't predict / expect growth?

Now, I believe there is still 6 - 12 months where they have to report lower earnings to due the bump in Covid related earnings and expect the share price to range bound / trend lower again after today. There is that annoying resistance circa $34.50 that the share price has tried to break through approximately 4 times in the past two years without success.

This will prove to be a sound investment where you can literally breathe well and sleep easy if you have a long - term view with investing and should form a core holding in investors' long-term portfolios. I am trusting that the share price will double in 5-7 years in line with future earnings growth re-starting in 12-24 months time.