Ansell cuts FY US$ earnings guidance

Company News

Ansell Limited (ASX:ANN) has announced a reduction to its full year 2016 US$  earnings guidance to an earnings per share guidance range of US$0.95 to US$1.10.
 
The company cites lower January sales and continued currency and economic volatility for the reduced EPS guidance, down from the previous guidance range of US$1.05 to US$1.20.
 
Ansell also said it expects sales for the first half of FY16 to hit approximately $785 million, 7 percent down as reported on H1 FY15 but on par with the prior corresponding period after adjusting for currency changes.
 
Looking ahead, improved operational performance in the second half is expected to be supported by a return to more normal seasonal patterns in comparison to the unusually weak second half seen in the last fiscal year.
 
Ansell recorded a net profit of $246.22 million at 30 June 2015.