Published 16-02-2015

ANSELL LIFTS PROFITS BY MORE THAN A THIRD

13-02-2015

Protective gloves and condom maker Ansell has lifted its first half profit almost 34 per cent after increasing sales strongly across its divisions.

The company reported a first-half profit of $US87.7 million ($112.8 million), up from $US65.6 million a year ago.

Ansell chairman Glenn Barnes said the companies acquisitions had been "delivering ahead of expectations."

In particular, the acquisition of US firm BarrierSafe is delivering very strong returns in its key medical and “single use” business units.

"While there are still more benefits to be realised from these acquisitions, their successful integration has allowed our balance sheet to strengthen and now positions us well for further strategic acquisition opportunities," said Ansell's CEO Magnus Nicolin.

Ansell said its sexual wellness business, which makes up 13 per cent of its revenue, recorded a 0.7 per cent rise in sales and 5 per cent increase in pre-tax profit.

The company's sales were up 20 per cent, with earnings per share rising 16 per cent, due to a larger number of shares on issue.

Ansell's interim dividend payment of US.20 cents a share was up 18 per cent, and will grow by more than twice that percentage for Australian investors after the recent slide in the local currency against the greenback.

However, the dividend is unfranked.

RELATED NEWS

  1. Whilst there is a chronic trade skill shortage impacting most industries, Kaishan Australia has taken on the enormous commitment to implement an ongoing, specialised skills training program that should pay huge dividends in the future.
    With an insight into their own compressed air industry, which...
  2. The opportunities around digital manufacturing are as varied and broad as the interpretation of the phrase itself. All too often digital manufacturing is tied to the advent of the newest and brightest technology and the associated hype. The application of robots, automation additive manufacturing,...
  3. Australia’s comparatively strong position emerging from covid-19 would not have been possible without the exemplary performance of its businesses. The government needs to guarantee they will not be punished for their diligence.
    Withstanding a once-in-a-lifetime pandemic with remarkable agility and...