Fisher & Paykel Healthcare has made a record half year profit of almost $49 million.

That's an increase of 10 percent over the first half last year.

Operating revenue grew to over $317 million.

The company manufactures products and systems for use in respiratory care, acute care, and the treatment of obstructive sleep apnea.

F&P Healthcare Chief Executive Officer Michael Daniell says the result reflects robust revenue growth, further gross margin expansion and other operational efficiencies.

He says this is offset by a reduction in foreign exchange hedging gains.

An interim dividend of 5.8 cents per share will be paid.