Manufacturing News

Ansell profit down

Protective clothing and condom maker Ansell has posted a 21 per cent fall in first half profit as a result of weakening economic conditions.

The company said in a statement that its net profit fell to $US69.6 million ($A98.30 million) for the six months to December 31, from $US87.7 million last year.

Last week, Ansell cut its full year earnings guidance from the range of $US1.05 to $US1.20.down to the US95 cents to $US1.10 range (a fall of about 10 per cent).

"The more challenging economic environment and a slower than anticipated start to the second half as reflected in January sales have led us to reduce our full year earnings expectations," managing director Magnus Nicolin said in a statement on Monday.

"However, I am confident we will see good progress on our key priorities during the balance of the financial year and an improved earnings performance compared to the first half."

As AAP reports, Ansell's sexual wellness business recorded earnings growth of 22 per cent, but earnings for its medical and industrial divisions dropped by 30 per cent.

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