Ansell, the Australia-listed protective-garment manufacturer, announced a 6.6% decrease in its annual profit, citing the need to clear inventory stockpiled during the Covid-19 pandemic. The company reported a net profit of $148.3 million for the 12 months through June, compared to $158.7 million the previous year. Additionally, revenue fell by 15% to $1.655 billion.

The board of Ansell decided to reduce the final dividend to 25.8 U.S. cents, down from 31.2 U.S. cents in the same period last year. This marks the second consecutive year of decreased dividends, as the company had declared a final dividend of 43.6 U.S. cents two years ago.

For fiscal year 2023, Ansell reported earnings-per-share of $1.175, a decline from $1.252 in the previous year, remaining in line with the company's earlier guidance range of $1.17 to $1.18. Looking ahead to fiscal year 2024, Ansell expects earnings-per-share between $0.57 and $0.77 as it invests in an extensive organizational overhaul.

While UBS analysts have acknowledged the necessity of Ansell's productivity program in response to commercial realities, they caution that it may not immediately provide the certainty investors seek.

Ansell's profitability had been driven by a surge in demand for single-use gloves and other protective garments during the first 18 months of the pandemic. However, rising input costs, slowing demand, and customer stockpiling subsequently impacted the company.

Revenue and Sales Projections

BiVictriX Therapeutics Seeking Funding for BVX001 Treatment

Leave A Reply

Your email address will not be published. Required fields are marked *