Ansell profit drops
Ansell’s fiscal 2016 full-year profit fell 15.1 per cent to $US159.1 million ($A207.8 million), amid a continuing weak global economy and adverse currency fluctuations.
On a constant currency basis, net profit fell 2.5 per cent.
Ansell said its sexual wellness business was its best performer on the back of strengthened management, new products, and strong growth in emerging markets, including China.
Its medical gloves business generated lower sales due to supply constraints and weakness in emerging markets partly because of constrained spending on public healthcare.
CEO Magnus Nicolin said fiscal 2017 would see the company increase its focus on opportunities for portfolio optimisation.
“We continually review our existing portfolio in a disciplined way,” Nicolin said.
“This will include consideration of options for the sexual wellness business and opportunities to enhance our positions in the industrial and medical businesses with value-enhancing acquisitions.
“Goldman Sachs has been retained to assist us in the review of options for the sexual wellness business.”