SYDNEY, AAP – Protective clothing maker Ansell has posted a 58 per cent jump in full-year profit on the back of rising demand for personal protective gear amid the continuing spread of coronavirus.
Net profit for the year to June 30 rose to $US246.7 million ($A343.3 million), while revenue was up 25.6 per cent to $US2.03 billion ($A2.81 billion).
“The COVID-19 pandemic has continued to be the dominant influence on the global economy this year as countries recover or succumb to new waves,” Chairman John Bevan said.
“This partly contributed to the company upgrading EPS (earnings per share) guidance three times throughout 2021 financial year.”
The company said sales of industrial products rose 7.1 per cent, while healthcare product sales were up 35 per cent.
The strong bottom-line growth helped lift the final dividend to 43.60 US cents per share, up from 28.25 US cents a year ago.
For the current financial year, Ansell expects EPS to remain stable in a range of $US1.75-$US1.95, compared to $US1.92 in fiscal 2021, and warned sales could be affected by supply disruptions in Southeast Asia.
“Recent capacity investments should support sustained demand. However, increased COVID-19 cases in South East Asia in recent months may disrupt supply. A number of Ansell’s factories and suppliers in the region have had short term closures or reduced operations,” it said in a statement on Tuesday.