F&P Healthcare falls for second day
The S&P/NZX 50 Index fell 43 points, or 0.4%, to 12,017.61. Turnover was $151 million.
On Wednesday morning, F&P Healthcare told the market it expected 2022 revenue to be just under $1.7 billion – a downgrade from the $1.75b Reuters consensus.
Despite investors already expecting lower earnings, because hospitalisation rates have fallen thanks to vaccines and the milder omicron variant, they still were taken by surprise and sold the stock aggressively.
It fell almost 8% yesterday and another 4.5% today, bringing it to $24.25 or more than 30% below its 12-month high of $36.50.
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