ResMed profits are riding on a big jump in US sales of sleep apnoea devices

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A big jump in US sales helped sleep disorder device maker ResMed lift revenue by 8% to $US1.7 billion for the full year.

Profit was $US352.9 million, a 2% increase.

Fourth quarter revenue in the Americas was up 27% to $US273.7 million. Europe and Asia Pacific combined fell 10% to $US179.4 million compared to the same period in 2014.

The company declared a quarterly dividend of $0.30.

“We finished the year with strong double-digit constant currency revenue growth and greater than 50% flow generator growth in the Americas during the fourth quarter,” CEO Mick Farrell says.

The company will continue to invest in research and development and manufacturing in China.

ResMed shares are up almost 7% to $8.04.

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