Ansell reduces full year guidance for FY16 ahead of next week's 1H16 results
The Executive Remuneration Reporter
Late today Ansell released revised FY16 EPS guidance to fall within the range of US$0.95 to US$1.10. Guidance provided at its 2015 AGM was for EPS to fall within the range of US$1.05 to US$1.20. A few details of 1H16 results: Overall sales of approximately US$785 million are down 7% on the pcp in actual currency. Anticipated FX hedging program gains of US$10 million didn't materialise. What Ansell describes as 'short term operations variations' produced higher costs in the Medical and Industrial GBUs reducing EBIT for these GBUs by US$10 million. Cost are being addressed and the company expects these short term operations variations to be resolved by the end of FY16. It expects a more normal seasonal sales pattern in 2H16, with 51%-52% of full sales recorded in the second half. That said, Ansell indicates its January 2016 sales were lower than anticipated, a situation said to be a result of customers adjusting inventory levels in response to the weaker external economic environment. Ansell is due to report its half-yearly results on Monday 8 February 2016.
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With a background in human resources, executive search and corporate law, Kym Sheehan brings unique perspectives on corporate governance and meeting resolutions to her work for The Executive Remuneration Reporter. The Executive Remuneration...
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