Ansell considers sexual wellness divestment

Image: www.skynews.com.au

Ansell’s full-year profit fell 15.1 per cent, with the company apparently mulling the sale of its sexual wellness division to focus on safety gear.

The company’s profit was $US 159.1 million, with revenue down by 4.4 per cent to $US 1.57 billion. Revenues were flat in constant currency terms.

The sexual wellness division was the best performing area, reports AAP, and had revenues of $US 220 million.

However, the company may be considering a divestment of that business to focus on protective equipment. The Australian Financial Review notes that Goldman Sachs had been appointed by Ansell today, to “assist us in the review of options for the sexual wellness business.”

“We continually review our existing portfolio in a disciplined way,” said CEO Magnus Nicolin.

“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.