F&P Healthcare falls after record $1 bill revenue

The S&P/NZX 50 Index declined 74.65 points, or 0.7 percent, to 10,147.71. Within the index, 27 stocks fell, 14 rose, and nine were unchanged. Turnover was $82.7 million.

F&P Healthcare fell 3.5 percent to $16.08 on a volume of 377,000 shares, almost half its 90-day average of 662,000. The manufacturer topped $1 billion in annual revenue for the first time and lifted profit 10 percent to $209.2 million in the March year. It also flagged earnings growth of at least 14 percent for the current financial year.

The stock is still the fourth-best performer on the benchmark index so far this year, up 28 percent.

"That was a very good result. It was the top-end of the guidance range provided and gave a pretty good outlook as well," said Peter McIntyre, an investment adviser at Craigs Investment Partners.