Sleep disorders have helped Fisher and Paykel Healthcare post a 31 percent rise in half year net profit to $37 million.

Operating revenue grew 18 percent to $251.4 million.

The company says the result is due to strong demand in its obstructive sleep apnea (OSA) product group and favourable exchange hedging.

An interim dividend of 5.4 cents per share has been declared.

Fisher & Paykel Healthcare's CEO, Mr Michael Daniell. says the company has continued to make very encouraging progress in developing new

clinical applications for technologies beyond its traditional invasive ventilation and OSA markets.

"An increasing proportion of our respiratory and acute care revenue is derived from devices used to assist in the treatment of patients requiring non-invasive ventilation, oxygen therapy, humidity therapy and laparoscopic surgery."

For the remainder of the 2010 financial year the company expects continuing growth in demand for its products and estimates that, at an

average NZ$:US$ exchange rate of 0.74, it will achieve operating revenue of approximately $NZ500 million and profit after tax of approximately

$65 million to $70 million.