Ansell announces profit for full year

ERJ staff report (RD)

Richmond, Australia - Australian latex product maker Ansell Ltd. has recorded a full year profit of Aus$102.6 million (euro 60.5 million), up fractionally from Aus$100 million in 2007, the company announced 18 August.

Sales also increased slightly to Aus$1244.0 million (Euro 734 million), earnings (EBIT) rose by 0.7 percent to Aus$123.5 million.

Ansell highlighted the success of its occupational business, saying, “the occupational business had an outstanding year with double digit sales and profit growth. That this was achieved in a period of US economic slowdown is particularly gratifying,” adding that, “importantly, we are seeing a solid recovery in our second largest business, professional, where margins are higher as we increase prices and improve our sales mix by selling more surgical gloves.”

Ansell attributes much of the successful performance of its occupational business to its investments in people and infrastructure in both mature and emerging markets such as Brazil, Mexico, China and Russia. This, the company said, is representative of the shifting of resources from slowing industrial sectors to faster growing areas.

Two occupational glove plants in the US and India were closed as planned during 2008 as a part of product cost restructuring, outsourcing and a move to targeted capital investments.

For the future outlook of the company, Ansell admitted that during F'08, “inflation pressures increased as evidenced by the costs of latex, oil and oil derivatives, natural gas in Asia and labour worldwide. At the same time it appeared that world economic growth was slowing. Ansell, however, benefits from its broad business portfolio and has plans to manage the impact of higher cost inflation and uncertain economic conditions.” 

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Press release from Ansell