Ansell shares lift on revised earnings guidance
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More news: Shares in Ansell are up nearly 3% to $32.35 after the protective clothing maker slightly lifted its full-year earnings guidance following a strong first quarter performance.
Ansell chief executive Neil Salmon said both the industrial and healthcare segments saw strong organic sales growth, prompting the company to adjust full-year earnings to 110 US cents (167.1 cents) to 127 US cents range, up from the previous guidance of 107 US cents to 127 US cents.
Ansell bumps up earnings guidance after strong Q1
The news: Protective clothing maker Ansell has slightly lifted its full-year earnings guidance on the back of a strong first quarter performance.
The numbers: The company lifted the bottom-end of its guidance range, with full-year earnings now likely to be 110 US cents (167.1 cents) to 127 US cents, up from the previous guidance of 107 US cents to 127 US cents.
The context: Ansell CEO Neil Salmon told shareholders ahead of the company’s annual general meeting that the first quarter represented a strong start for the fiscal year.
He did not specify financial performance but said new products have supported strong organic constant currency sales growth in the Industrial segment, despite manufacturing demand conditions in key markets staying relatively weak.
The healthcare segment also saw good organic sales growth on a constant currency basis, helped in part by the fulfilment of surgical orders that had been delayed due to shipping disruptions last year.
The company is, however, seeing higher freight costs as well as inflation in cost of key raw materials, which is likely to have a greater impact in the second half, he said.
The source: ASX announcement
