By Stephen Wright

WELLINGTON, New Zealand--Respiratory devices maker Fisher & Paykel Healthcare Ltd. said it will invest about 700 million New Zealand dollars ($481 million) over five years to expand its manufacturing.

The company, which received a significant earnings boost last financial year from the pandemic, said it plans three new manufacturing sites outside New Zealand, including one currently under construction in Tijuana, Mexico. It also plans a second corporate campus in New Zealand.

"The longer-term impact from Covid-19 for our business has been a larger installed base of our hospital hardware and increased global physician awareness and experience with our therapies and products," the company said. "We are continuing to invest in our infrastructure to ensure it supports our long-term growth."

Fisher & Paykel, the largest New Zealand company by stock market capitalization, reported a flat first-half result on Thursday as pandemic-driven demand from hospitals fades. Net profit fell 2.0% from a year earlier to NZ$221.8 million and revenue dropped 1.0% to NZ$900 million.

The company said uncertainties stemming from the pandemic mean it can't give full-year revenue or earnings guidance. But it said it doesn't expect hospital-hardware revenue to continue at elevated levels for the remainder of the financial year.

Write to Stephen Wright at stephen.wright@wsj.com

(END) Dow Jones Newswires

11-24-21 1512ET