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Ansell’s full year profit triples to $662.4m

ansellGloves and healthcare company Ansell’s full-year net profit has more than tripled to $US484.3 million (A$662.4 million), after gaining US$345 million from the sale of its condoms business.

The Australian Financial Review reported Ansell’s chief executive Magnus Nicolin said the group’s industrial division delivered a strong performance while the healthcare division produced only moderate growth amid tough conditions in its surgical supplies business.

Underlying profit after tax from continuing operations rose 16 per cent to $US138.8 million for the year ended June 30, from $US119.5 million a year earlier, while total sales fell 0.8 per cent to $US1.55 billion due to the sale of its condoms business. The group will pay a final dividend of 25 US cents a share, up from 23.75 US cents a year earlier, and has flagged, and flagged a mixed outlook for the new financial year, AAP reported.

ABC News said Ansell has sold its Sexual Wellness division to China’s Humanwell Healthcare and the conglomerate giant CITIC in 2017 for A$800 million. It includes all of its condom, lubricants, devices and manufacturing sites.

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