Ansell anticipates profit windfall from U.S. tax reform | Finance News Network

Ansell anticipates profit windfall from U.S. tax reform

Company News

by Jessica Ellerm

Ansell Limited (ASX:ANN) has indicated it anticipates the US Tax Reforms will deliver an estimated benefit to profit after tax of US$3 to $5 million by FY19.

The US Federal Corporate tax rate will fall from 35 per cent to 21 per cent, after US congress passed reforms yesterday.

Previously Ansell had provided guidance of a Group Effective Tax Rate of 26 to 27 per cent by FY20.

After factoring in tax reform implications, Ansell now expects the Group Effective Tax Rate to remain at the current 24 to 25 per cent level through to FY20.

Shares in Ansell Limited (ASX:ANN) are trading 0.92 per cent lower at $24.90

 

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.