Sydney, Australia – Ansell Ltd, a supplier of rubber protection products, has reported a drop in 2016 sales and revenue due to weak demand for its medical products in emerging markets.
Weak markets hamper Ansell growth
The company said that weak global economy as well as currency fluctuations contributed to the results, which it said was at the low end of its guidance.
The Australian company grew brands in industrial, single use and sexual wellness, said CEO Magnus Nicolin, with strong performance for its sexual wellness products in emerging markets.
“Results… generally improved through the year for single use and industrial, with continued strong performance in China and Mexico,” said Nicolin, adding that industrial products grew in Russia in the second half of the financial year.
As for medical products, Ansell said its new synthetic surgical glove lines in Melaka, Malaysia, were completed on schedule at yearend and that it had addressed its first-half start-up issues there.
The company also divested its US only Onguard boots business in May after deciding to focus our resources on the recently acquired Microgard clothing business.
Nicolin said that the Microgard business had significant potential to expand globally and in new markets.