Ansell (ASX:ANN) profit jumps 57.5% in FY21

Company News

by Lauren Evans

Ansell (ASX:ANN) recorded yearly sales of US $2,027 million for the period ending 30 Jun 2021, up 25.6 per cent from the prior year, following a rising demand for personal protection products.

Amid Covid-19 pandemic, the global brand recorded earnings before interest and taxes of US $338 million, up 56 per cent from the prior year.

Profit attributable to Ansell shareholders of US $246.7 million was up 57.5 per cent from the prior year.

Operating cash flow of US $49.2 million was temporarily weaker, reflecting increased investment in working capital to support sales growth and higher capital expenditure of US $82.7 million, up 36.5 per cent from the prior year

Final dividend of US 43.6 cent per share has been declared, with payment set to occur on 16 Sep 2021.

Ansell notes it is likely that Covid-19 will continue to feature throughout FY22, but the impacts will depend on vaccination rates and virus mutations.

CEO Magnus Nicolin said: "We were able to get 12 new glove lines and several new body protection smart lines live which helped to deliver the results we saw for FY21 and will also support growth for FY22 and beyond. We ensured that the business is well positioned for the post Covid-19 environment by continuing to invest in our sales force, customer experience, product innovation and digital capabilities." 

Shares in Ansell (ASX:ANN) are trading 6.3 per cent lower at $37.96.

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